Borrowing Costs Rise in Italy as Spain Drags Their Feet on Asking for a Bailout

“Italy’s borrowing costs rose at an auction of three-year debt today on concern that Spain’s reluctance to request a bailout will weigh on Italian bonds.

The Rome-based Treasury sold 3.75 billion euros ($4.8 billion) of its benchmark three-year bond to yield 2.86 percent, more than the 2.75 percent at the last auction of the same securities on Sept. 13. Investors bid for 1.67 times the amount offered, up from 1.49 times last month.”

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