Italian borrowing costs rise further on fiscal concerns, hawkish ECB

LONDON (Reuters) – Borrowing costs in Italy rose further on Wednesday, hit by signs the new government wasn’t planning to tone down its big-spending plans in Europe’s third-biggest economy, while hawkish comments from the European Central Bank also added upward pressure.

Benchmark yields in 10-year maturities () on the government bond market in Italy rose 15 basis points to 2.91 percent while yields on two-year maturities surged 39 basis points at 1.38 percent ().

The jump in eurozone bond yields pushed up Spanish and Portuguese bond yields by 6 to 12 basis points across the board.

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