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Italy charged 8% for 2 year bonds in shock auction

darkman2 · 2011-11-25 10:29:01

The Italians tried to spring a supprise this morning by announcing the auctioning of €10bn worth of bonds - 8bn in 6 month notes and 2bn 2 year bonds. It was a disaster if initial reports are correct. They were charged 7.95% for 2 year bonds. Words fail to describe what a silly exercise this was and how much worse it may…

25-11-2011 10:29am

#1

darkman2

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The Italians tried to spring a supprise this morning by announcing the auctioning of €10bn worth of bonds - 8bn in 6 month notes and 2bn 2 year bonds. It was a disaster if initial reports are correct. They were charged 7.95% for 2 year bonds.

Words fail to describe what a silly exercise this was and how much worse it may now have made the crisis. Italy cannot sustain that level of interest. They need a bailout.

Some exercise in patriotism that.

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