NEW YORK: The free fall in Italy’s debt underscored that even one of Europe’s biggest debt markets is subject to the traders’ adage that liquidity often dries up just when you need it most.
The country is struggling to form a government more than two months after its last parliamentary election and fear that populist parties could turn a repeat poll into a de facto referendum on euro membership have sent yields surging in Italy’s ?1.6 trillion (US$1.85 trillion) bond market.
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