October 1, 2018 / 6:14 AM / in 2 months

Italian short-end bond yields extend last week's rise on budget concerns

LONDON, Oct 1 (Reuters) - Italian short-end bond yields extended last week’s rise, opening up to 18 basis points higher on Monday as concerns over the Italian budget continued to spook investors.

The European Commission is set to reject Italy’s budget plans in November and open a procedure against the country’s public accounts in February, Italian daily La Repubblica reported on Monday.

Italy’s two-year government bond yields surged 18 basis points to 1.23 percent, while its longer 10-year government bond was up eight basis points at 3.23 percent., .

Reporting by Virginia Furness; Editing by Saikat Chatterjee

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