>
>     On Tue, Mar 11, 2008 at 7:52 AM, Dave Vealey wrote:
>
>     1 yr bill auction in Italy looks to have failed to get enough bids for
>     paper. Avg yield was 3.80% and high yield was 4.50%….
>
>     DV
>

Not good! This is where the real systemic risk lies, as previously discussed.