Fiasco! Italian election result rocks SSA market

February 26, 2013 12:00 AM

• Bankers slam voters as uncertainty sparks volatility<br>• Borrowing costs sharply up at six month auction<br>• SSA issuance seen continuing but contagion fears rise<br><br>The inconclusive result of the Italian election appeared to have dealt a damaging blow to the recovery of Europe’s peripheral sovereign debt markets on Tuesday morning. But senior SSA bankers predicted that the ensuing uncertainty would not do too much to derail issuance in the sector, starting with Tuesday’s three year EFSF syndication.

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