December 20, 2018 / 9:44 AM / 3 months ago

Foreign investors sold 3.4 bln euros in Italian govt bonds in October

MILAN, Dec 20 (Reuters) - Foreign holdings of Italian government bonds fell by a net 3.4 billion euros ($3.9 billion) in October, central bank data showed, bringing the overall drop since a populist government coalition first emerged in mid-May to more 72 billion euros.

The sales in October hit mainly short-term bonds, the Bank of Italy said on Thursday in its balance of payments publication.

Unnerved by the anti-austerity and anti-European stance of the Rome government, foreign investors have been shedding Italian debt in recent months, pushing up Rome’s cost of borrowing. ($1 = 0.8718 euros) (Reporting by Giulio Piovaccari, editing by Valentina Za)

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