Italian Bonds Break 7%

Oof.

Italian bond yields have now surely passed the point of no return. With 10-year bonds now yielding more than 7.3% and rising, it is hard to see how Rome can possibly stop this dangerous spiral. The mother and father of all bailouts looks inevitable if Italy is to avoid a catastrophic default: it has more than €300 billion of debt to refinance in the next year alone. But who is going to provide the money to keep Rome afloat?

Mach schnell mit der Druckerpresse!