Frankfurt: Italian two-year and five-year government-bond yields soared to euro-era highs Friday as investors began giving up on the euro zone’s ability to break the political gridlock that is blocking a more decisive response to the currency bloc’s debt crisis.
Tough time: Italian Prime Minister Mario Monti. Photo: Alessandro Bianchi/Reuters
Italian two-year and five-year yields climbed to 7.7% and 7.8%, respectively, and the 10-year yield moved further above the key 7% mark to 7.3%.
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The Wall Street Journal