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Italy to Sell Bonds Amid Election Crisis

February 27, 2013
| Economics
| Europe
Italy will test the bond market today amid its election crisis, in what UniCredit analysts deem a “challenging environment” . . . Italy will sell up to 4 billion euros ($5.2 billion) in 10-year bonds and up to 2.5 billion euros in 5-year bonds today . . . the country’s 10-year bond were at about 4.86% this monring before the auction, an increase of around 0.4% from before the election, but still short of the 7% level experienced at the height of Italy's debt crisis . . . the inconclusive results of the Italian election have left Italy’s European counterparts worried that the political turmoil in the country will gravely affect the entire eurozone’s debt crisis and the bond sale today could also exacerbate economic problems by pushing the euro lower . . . European leaders will likely remain uneasy even if the Italian bonds sale ends positively today as the political problems gripping Italy probably will not be solved soon.


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