The tension drops on the Italian spread, which returns below 360. waiting forEurogroup this afternoon which will have to decide on new aid to Greece, this morning the yield differential between 10-year BTPs and the corresponding German Bunds dropped to 356 basis points, from 366 at the opening. The new layer matches interest rates on our ten-year government bonds equal to 5,5%.
The tension on them is also relieved spread of France and Spain, which decreased respectively from 108 to 105 and from 332 to 325 basis points.
Meanwhile, confidence in a positive outcome of the European summit is also making its effects felt on the currency and stock markets. The euro climbs back above $1,32 (last Thursday, while some uncertainties about the aid plan for Greece had recreated, it had dropped below 1,30 dollars), aligning itself with a generalized market upturn in Europe. In mid-morning, Frankfurt is the market that shows the greatest rise (+1,42%), followed by Paris (+1,37%), Milan (+1,02%) and London (+0,33%).
