Bloomberg News

German 10-Year Bonds Erase Drop as Italian Borrowing Costs Climb

October 28, 2011

Oct. 28 (Bloomberg) -- German 10-year bonds erased their drop, paring a weekly loss, as Italy’s borrowing costs rose at its first auction since a European Union leaders’ summit hat decided yesterday on new measures to fix the debt crisis.

The German 10-year yield was little changed at 2.21 percent at 11:19 a.m. in London, after rising earlier to 2.28 percent. The two-year yield was at 0.65 percent.

Italy’s Treasury, based in Rome sold 3.08 billion euros ($4.4 billion) in bonds due in 2014 to yield 4.93 percent today, up from 4.68 percent at the last auction of the same securities on Sept.29. Italy also sold bonds due in 2017, 2019 and 2022.

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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