For more than three weeks, the differential between the Italian 500-year BTPs and the corresponding German Bunds has remained above the threshold of XNUMX basis points. This morning, inwaiting for the auction of the Bots, the spread fell steeply, losing more than 20 points and settling at 492 bps. The yield of the BTP maturing on March 22, 2012 is 6,76%. The yield on 2-year securities also fell to 4,4%.
There is also confidence in the Spanish auction: the Bonos-Bund differential is at 339 points with yields at 5,42%.
The French spread also decreased to 121 basis points.
