Morning on the swing for the Italian spread, which continues to travel at dangerously high levels, settling around 13pm on 460 points. After having opened at 451, the yield differential between ten-year BTPs and the corresponding German bunds underwent a very rapid surge, which led it in less than an hour to exceed again – albeit by just a few tenths – the quota of the 470 basis points.
In the following hours the gap narrowed only slightly, in any case recording a completely unstable trend. At the end of the morning yields on the Italian XNUMX-year bond they reached 6,66%.
The situation on the French and Spanish debt market is much calmer, with spreads still substantially at the opening levels. The Paris differential scores 123 points, while that of Madrid is at 373. The positive Bonos auction canceled the effects of an initial blaze.
