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Italy bond yield rise due to Spain contagion -debt management chief
April 11, 2012 / 5:15 PM / in 6 years

Italy bond yield rise due to Spain contagion -debt management chief

ROME, April 11 (Reuters) - Italy’s one-year borrowing costs jumped on Wednesday mostly because of contagion tied to fears over Spain’s budget troubles, the Italian Treasury’s head of debt management Maria Cannata said at a conference.

She said she was not concerned about demand for Italian debt, and that she hoped Thursday’s auction of longer-term bonds would go better.

On Wednesday, Rome paid 2.84 percent to sell one-year debt, up from 1.405 percent at the previous auction in mid-March, reaching the highest level since December.

Italy will start issuing more longer term debt once market conditions “normalise”, Cannata said.

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