October 19, 2018 / 6:19 AM / a year ago

Italy bond yields hit 4-yr highs as EU warns of "unprecedented" budget breach

LONDON, Oct 19 (Reuters) - Italy’s 10-year and 30-year bond yields hit their highest levels since early 2014 on Friday after the European Union warned of rules breaches in Italy’s draft budget.

Italy’s Prime Minister defended its free-spending budget on Thursday, brushing off criticism from Brussels as the European Commission stepped up pressure over a draft it labelled an unprecedented breach of EU fiscal rules. (Reporting by Abhinav Ramnarayan Editing by Matthew Mpoke Bigg)

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