Italy's financial 2013 starts better than expected. While Piazza Affari gallops, gaining more than three points, the Btp-Bund spread is back below the psychological threshold of 300 basis points. The yield differential between our 10-year government bonds and the corresponding German bonds fell to a minimum of 298. The new width of the gap corresponds to an interest rate on our ten-year bonds of 4,38%.
The agreement between American Republicans and Democrats on the measure to avoid the so-called "fiscal cliff", that "fiscal cliff" made up of spending cuts and tax increases that risked sending the 2013 accounts of the USA into the red .
