December 7, 2012 / 9:11 AM / 5 years ago

EURO GOVT-Italian political tension pushes bond yields up

LONDON, Dec 7 (Reuters) - Italian government bond yields rose on Friday as recent political tension that has undermined the position of the country’s technocrat leader continued to deter investors.

On Thursday former Prime Minister Silvio Berlusconi’s party withdrew support for current Prime Minister Mario Monti, a technocrat trusted by investors to bring down the country’s debt.

The Italian 10-year yield was 8 basis points higher on the day at 4.64 percent, while equivalent Spanish yields also felt the pressure, rising by the same margin to 5.55 percent.

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