The tension on the Italian public debt eases slightly. This morning, pending the auction of government bonds in Germany and above all themeeting in Berlin between Prime Minister Mario Monti and Chancellor Angela Merkel, the spread – which had opened at an altitude of 522 – dropped dramatically, reaching a minimum of 506 points.
In the following minutes, however, the yield differential between 10-year BTPs and the corresponding German Bunds, however, started to grow slightly again, reaching just above the threshold of 510 basis points. With regard to the yields on the other hand, the value of our ten-year bonds fell below the infamous 7% barrier, albeit by just two hundredths of a point.
Down sharply this morning too the spreads of France and Spain, which, after opening respectively at 138 and 3 359 basis points, fell for several consecutive hours until they reached the levels of 132 and 338 basis points.
