Lo spread Italian has returned to above the threshold of 300 basis points. In the afternoon, the yield differential between our 10-year government bonds and the equivalent German Bunds reached a maximum for the day of 302 basis points, before retracing slightly and settling at around 295 bp. Yesterday in closing the value did not exceed 287 points. The new width of the gap corresponds to interest rates on our ten-year bonds equal to 4,54%, against 4,5% at yesterday's close. The spread between Spanish Bonos and the Bund rises to 335 points.
On the stock side, in the same minutes Business Square it accelerated downwards, losing more than one and a half points. Bank stocks weigh on the list, but Telecom Italia (-4,55%) records the worst trends – affected by the latest Agcom provision –, Enel (-4,30%) and Terna (-3,90%), downgraded by S&P.
“It's as if there's a fear that something might happen to Italy,” says a trader, adding that low volumes accentuate volatility. It is not only the Italian political situation that is worrying, but also the crisis in Italy Portugal. The political tensions that are shaking the government led by Passos Coelho are fueling fears of a second bailout.
