Italy forced to pay high rates in bond issue (AFP)

MILAN (AFP) ? The Italian treasury was forced to pay increased rates for a nine-billion-euro ($13 billion) bond issue on Tuesday, as Italy's economy continues to feel the pressure on financial markets.

The treasury issued 7.5 billion euros in six-month bonds at a fixed yield or rate of 2.269 percent compared to 1.988 percent for the last similar operation.

The treasury also raised 1.5 billion euros in two-year bonds at 4.038 percent compared to 3.219 percent previously, indicating investor concerns.

Stocks were also down in Milan, with the benchmark FTSE Mib index easing 0.58 percent in morning trading.

Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http%3A//news.yahoo.com/s/afp/20110726/bs_afp/italyfinanceeconomybonds

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