Italian bond yields rise

LONDON, Oct 11 (Reuters): Italian bond yields rose on Tuesday after a German official denied that the country's government plans to support the issuance of joint European Union debt.
German yields eased, having jumped the previous day after Bloomberg reported that the government would support issuing join EU debt to tackle the energy crisis.
However, a German government official later denied the report, saying no joint debt plans are afoot. "Such plans are not known in the government," the source told Reuters on Monday.
Italy's 10-year government bond yield was last up 7 basis points to 4.702 per cent, although it remained below the 9-year high of 4.927 per cent touched on Sept. 28. Yields move inversely to prices.
The Reuters report "has helped to stabilize Bunds while BTPs are under pressure, or at least reversing some of the gains that they had yesterday after the Bloomberg story," said Christoph Rieger, head of credit research at Commerzbank.