Italian bonds hit key 7% mark

The yield on Italian bonds rose above 7% on Wednesday, the level at which other countries have had to seek international bailouts.

The 7% level isn’t an automatic trigger, but it is the level that prompted International bailouts for Portugal and Ireland.

On Tuesday, they spiked to 6.77% after Italian Prime Minister Silvio Berlusconi won the budget vote but lost his majority in Parliament.