(BN) *ITALY SAYS NEW 10-YR BENCHMARK BOND FOR SPREAD CALCULATION

Italy says they have discovered flaw with yield calculations.  Going forward, all yields calculated on Italian bonds should be adjusted downwards by 50 bps, because it looks so much better.

Greece got a lot worse shortly after their finance minister took the time to state that speculators would lose their shirts betting against Greece.

This seems similar, though I guess it seems to have worked for Spain, why not Italy, but I’m not sure who they are trying to trick at this point?

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*ITALY SAYS NEW 10-YR BENCHMARK BOND FOR SPREAD CALCULATION

2011-12-13 17:49:32.220 GMT

–MARCO BERTACCHE

-0- Dec/13/2011 17:49 GMT