Italian Bond Auction Goes Relatively Well but Euro Continues its Slide Against the Dollar says Pan American Metals of Miami
A recent Italian bond auction went better than expected but did little to stop the fall of the euro against a strong dollar.
MIAMI, FL – Italy sold over 7 billion euros at rates of 6.98% though Prime Minister Mario Monti warned that the ‘financial turbulence’ was not over. In fact the auction fell short of the target of 8.5 billion euros but was nevertheless seen as a positive forward move. Perhaps more importantly, the ECB stepped in to buy some of Italy’s bonds followi..
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