A Very Impressive Bond Auction In Italy

There’s been some nervousness about Italy lately, since Silvio Berlusconi (smarting from his 4-year prison sentence) threatened to get back into politics and topple the existing Monti government.

But markets are pretty blase about it.

Italy just had a strong auction. Bloomberg’s Linda Yuen tweets the stats: ” Italy sold 10 year benchmark bonds at 4.92%, lowest since May 2011, vs 5.24% on Sept 27, also new sold 5 year bond at 3.8% vs 4.09% in Sept “

Here’s a chart of 10-year yields going back a year. From Bloomberg:

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