Another day of high tension for Italian government bonds. Opening the Btp-Bund spread returned above 480 basis points, reaching a peak of 487, after closing last Friday at 479. I yields on our XNUMX-year bonds they remain like this, even if only for a short time, over the psychological threshold of 6%considered unsustainable in the long run.
Up too the Spanish differential, which rises to 545, 5 points higher than last week's close. Interest rates on ten-year Bonos stand at 6,71%.
To weigh is above all Angela Merkel's warning. The German chancellor remarked yesterday that Germany will not accept a greater degree of European solidarity if controls are not increased in parallel.
Words that cast a shadow over the approval of the anti-spread shield at the next meeting of the Eurogroup, scheduled for 20 July. All as August approaches, the month in which markets are traditionally more volatile and speculation is particularly fierce.
