Sensational surge in the Italian spread at the opening of the session. The yield differential between ten-year BTPs and their equivalent German Bunds continues to grind record after record. The latest record since the introduction of the euro was set shortly after 9, when the spread touched the threshold of 491 basis points, to then move back to just over 480 bps.
Simultaneously, the yield on ten-year government bonds has reached 6,61%, far exceeding the 6,5% limit considered by many analysts to be the tipping point.
But today is not just a day of passion on the bond market front. The stock market is also under attack. Just half an hour into trading Piazza Affari leaves 2,26% on the field, after having come to lose more than 2 and a half percent. In the following minutes the losses were reduced up to -1%. All the other European lists were also in the red, which however recorded less conspicuous drops: London dropped by 1,63%, Paris by 2,11% and Frankfurt by 1,88%.
