October 23, 2018 / 1:28 PM / 24 days ago

Italian bond yields rise on report EU rejects Italy budget

LONDON, Oct 23 (Reuters) - Italian bond yields rose across the board on Tuesday after Italian news agency AGI reported the European Commission had decided to reject the country’s 2019 budget and ask Rome to present a new document within three weeks.

Two-year Italian borrowing costs rose four basis points to 1.50 percent while benchmark 10-year yields were up three bps at 3.51 percent

The closely-watched Italy/Germany 10-year bond yield spread widened to 309 bps, now 6 bps wider on the day. (Reporting by Abhinav Ramnarayan; editing by Sujata Rao)

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