The mad rush of the Italian spread continues. After closing last night at 407 bps, this morning the yield differential between the ten-year BTPs and the corresponding German Bunds set a new all-time record since the introduction of the euro, reaching a few minutes after the opening sidereal share of 439 basis points, to then drop slightly to 435.
As a result, the yield on Italian ten-year BTPs also soars, reaching 6,2%.
Things are no better on the stock markets, which are being tormented by a veritable storm. The session opened exactly as it ended yesterday: with European stock markets collapsing and the black jersey in Milan. The Ftse Mib in mid-morning lost more than 5%, followed by Frankfurt (-3,82%), Paris (-3,78%) and London (-2,46%).
