At the first bond trading, the Italy-Germany spread started to gallop again. The differential between the Btp and the Bund at 9 made yet another record since the beginning of the euro era: 332 basis points. Yesterday afternoon it had closed at 302. The yield on ten-year Italian government bonds thus rose to 5,92% (22 cents).
The trend of ten-year bonds on Spanish debt was also disastrous, which this morning saw their spread on the bund widen by a further 21 basis points, reaching a peak of 360. In this case, the yield reached 6,23%.
The constant lack of concrete interventions by Europe on the front of the rescue of Greece has fueled the tension in the international arena. The commitments made yesterday in Brussels are not enough to reassure the markets and stem the fears that the debt crisis could irreparably infect other peripheral countries of the euro area. Italy and Spain in the lead.
