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Post by bot on Dec 23, 2011 21:56:51 GMT -5
Italy's 10-year yield tops 7%; euro slips from MarketWatch.com - MarketPulse NEW YORK (MarketWatch) -- Yields on Italy's 10-year bonds topped 7% on Friday, continuing a steady rise after the European Central Bank's long-term liquidity operation earlier this week. "Yields moving up shows Italian banks that took that capital are not reinvesting it in sovereign debt, and that's a concern," said Christopher Vecchio, a currency analyst at DailyFX. Above 7%, "rates are unsustainable. Countries won't be able to fund themselves in the future. The euro still can't find traction if Italian bonds aren't improving." Italy's 10-year yield tested 7%, Vecchio said, and lately traded down a little under that threshold. The euro slipped to $1.3041, from $1.3053 late Thursday. The dollar index , which tracks the U.S. unit against six other currencies, traded at 79.982, up from 79.929 in late North American trade Thursday.
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