Yields on Italy's debt rose on Wednesday, underperforming German bonds as pressure built ahead of Italian short-term debt sales and with higher-risk auctions of long-term paper due later in the week. Italy, at the sharp end of the euro zone debt crisis, will sell up to 9 billion euros of six-month treasury bills and 2.5 billion euros of two-year zero coupon bonds later in the session. Demand from domestic banks is expected to provide for a smooth auction, albeit at a high cost. "Everybody seems to expect the bill sales to go alright, but there's very few people around to participate. Tomorrow's sale of long-term debt ... (full story)