The tension remains high Italian spread. After opening at 383, the yield differential between XNUMX-year BTPs and their equivalent German Bunds fluctuated throughout the morning between 380 and 389 basis points.
The most significant increase occurred in the first hour of trading, while in the following minutes the spread narrowed again to then stabilize at a level that still remains very high, between 382 and 383 points.
Similar trend also for the Spanish spread, which however remains much lower than the Italian one. At the end of the morning, the Madrid differential was at the opening levels, at 342 basis points, after having reached a peak of 346. difficult bond auction at 3 and 6 months did not significantly affect the yields on XNUMX-year bonds.
