The expected overtaking of the Bonos/Bund spread on the Btp/Bund differential took place this morning: the differential between Spanish ten-year bonds and their German counterparts dropped to 247 basis points against 248 for Italian bonds.
The analysts had been clear: it was only a matter of days for the Bonos/Bund spread to align with that of ten-year Italian government bonds. IERI (Yesterday) the two figures were very close, today there was even an overtaking, despite both differentials showing a decrease compared to yesterday's closing.
The spread between the 247-year Iberian bonds and their German counterparts stood at 248 basis points in the morning, while the BTp/Bund spread was at XNUMX.
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