Borrowing costs in Italy jumped on Monday after voters rejected Prime Minister Matteo Renzi's proposals for constitutional reforms. Renzi said he will officially resign on Monday, which some worry will put to put the populist and eurosceptic 5 Star Movement on a path to more power and lead Italy out of the eurozone. The yield on 10-year Italian government rose 11 basis points to 2.020% in early Monday trade. To cope with the immediate market volatility, the European Central Bank could temporarily tilt its bond buying toward more Italian debt, analysts said. The ECB meets on Thursday.
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