The activity of the European Central Bank continues to fuel the cooling effect on the BTP-Bund spread. Today, the purchase of Italian debt bonds on the secondary market brings down the yield differential between Italian and German ten-year government bonds to 272 basis points. In terms of yield, this figure implies a drop below the 5% threshold.
Where, however, the screen offered by the actions decided by the ECB does not extend, and that is on the Credit Default Swap market, in which the highest European monetary authority does not participate, the data reveal an opposite trend: the value, expressed in basis points, grows , settling at 388.
