Only in the world of political spin could it be described that today's Italian bond auction...

|By:, SA News Editor

Only in the world of political spin could it be described that today's Italian bond auction "went rather well." The Treasury sold 10-year paper priced to yield 6.98%, down from 7.56% in November, but still a staggering (and unsustainable) figure for a heavily indebted country sinking deeper into recession.