Italy saw god demand at its bond auction


European Market Update: Italy saw god demand at its bond auction while yields hit fresh EMU record level highs Economic Data – (EU) ECB: €1.7B borrowed in overnight loan facility v €1.7B prior; €281.4B parked in deposit facility €256.2B prior – (UK) Nov Nationwide House Prices M/M: 0.4% v 0.0%e; Y/Y: 1.6% v 1.3%e – (SP) Spain Nov Preliminary Consumer Price Index Y/Y: 2.9% v 2.7%e; CPI EU Harmonized Y/Y: 2.9% v 2.8%e – (SP) Spain Oct Adjusted Real Retail Sales Y/Y: -7.0% v -5.6% prior; Real

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