Thursday, July 28, 2011

Italian August bond sale cancellation - Tremonti, Bossi

"Italy will cancel its mid-month auction for medium and long-term bonds, known as BTPs, "considering the large cash availability and the limited borrowing requirement"

A problem for Italy's Finance Minister involving paying rent in cash for a Rome apartment from Reuters linked here. Image found from the comment threads to Zero Hedge, linked here.

Italian bonds yields are on the rise on the rumours of Tremonti's resignation, but the fundamentals make it difficult to believe the lethal 6.0% level will not soon be breached. More from the New York Times from here.



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