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Markets

Italian yields, CDS rise ahead of auctions

Published Updated

Italian 10-year government bond yields were 13 basis points higher on the day at 5.89 percent.

Five-year credit default swaps were 10 basis points higher at 518 basis points, according market monitor Markit. The price means it costs $518,000 dollars to insure $10 million of debt against default.

"It's just auction set-up for next week," a trader said. "They have a heavy supply week."

Italy is due to sell zero-coupon and inflation-linked bonds on Tuesday and BTPs on Thursday. The Treasury will announce details of the first sale later on Friday and of the BTP auction on Monday.

 

Copyright Reuters, 2012