Italian borrowing costs continue to rise

AP News
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Posted: Apr 26, 2012 6:29 AM
Italian borrowing costs continue to rise

Italy was forced to pay higher interest rates of 1.77 percent in the latest sale of its six-month bonds.

That compares with 1.11 percent in the last sale a month ago. Italian rates, or yields, are rising as concerns about the eurozone's debt crisis are renewed.

Italy easily raised (EURO)8.5 billion ($11.23 billion) in an auction Thursday that was oversubscribed 1.7 times, compared with 1.5 times a month ago.

Markets have been jittery over the French elections and Italy's acknowledgment that it won't balance its budget until 2015, instead of 2013 as pledged.

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MILAN (AP) _ Italy was forced to pay higher interest rates of 1.77 percent in the latest sale of its six-month bonds.

That compares with 1.11 in the last sale a month ago. Italian rates, or yields, are rising as concerns about the eurozone's debt crisis are renewed.

Italy easily raised (EURO)8.5 billion ($11.23 billion) in an auction Thursday that was oversubscribed by 1.7 percent, compared with 1.5 percent a month ago.

Markets have been jittery over the French elections and Italy's acknowledgment that it won't balance its budget until 2015, instead of 2013 as pledged.