ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,443
11424hr
Pakistan Cases
721,018
505024hr
Sindh
268,750
Punjab
248,438
Balochistan
20,241
Islamabad
65,700
KPK
98,301
Markets

Bunds up as Italy fail to calm markets

LONDON: German government bonds rose on Tuesday with a change of government in Italy failing to stem a rise in the count
15 Nov 2011

 LONDON: German government bonds rose on Tuesday with a change of government in Italy failing to stem a rise in the country's borrowing costs, reflecting the huge challenges facing policymakers struggling to contain the euro zone debt crisis.

Italian 10-year bond yields were left above 6.65 percent on Monday, despite European Central Bank bond buying, and the Spanish 10-year yield rose above 6 percent for the first time since August ahead of an auction of the launch of a new 10-year bond on Thursday.

"Contagion is spreading and very quickly and unless the European Central Bank come in and buy bonds on an unsterilised basis -- which there is no sign of them doing - then it's hard to see it stopping," a trader said.

December Bund futures were 29 ticks higher at 138.55 with benchmark 10-year yields down a basis point at 1.78 percent.

Itlian Prime Minister-designate Mario Monti meets the leaders of the country's biggest two parties on Tuesday to discuss the "many sacrifices" needed to reverse a collapse in market confidence that is driving an ever deepening euro zone debt crisis.

Particularly worrying in recent sessions has been the rise in French bond yields -- over 30 basis points in 10-year yields in the last week.

France's inability to make rapid adjustments to its economy is a serious concern and should be ringing alarm bells for the euro zone, according a report issued by the Lisbon Council.

The yield spread of Belgian and Austrian 10-year bonds over Bunds are also at euro-era highs, while the equivalent Dutch spread is at its most since early 2009.

Copyright Reuters, 2011