Investors seem to be increasingly attracted by Italian government bonds and the yield on ten-year BTPs drops to 6,56%. It follows that the spread with the corresponding German Bunds also narrows and reaches 466 basis points, to then rise slightly up to 470.
However, the record belongs to 2-year bonds which trade at 3,92%: it has not fallen below 4% since September 2011. After the outcome of thebot auction yesterday, in which yields were practically halved, today the placement of a maximum of 4,75 billion medium-term bonds is expected (maturity July and November 2014 and November 2018).
It has been stable for two days spanish spread, this morning at 327 basis points.
In France, however, the tension continues. Despite the differential between Oats (French XNUMX-year BTPs) and Bunds has moved away from the record reached on 5 November at 190 basis points, continues to remain above the 100 points threshold at 118 bp.
