Tension is growing on the bond markets of the peripheral countries of the Eurozone. The announcement of new elections in Greece and the lack of agreement for a pro-European government, which bring with them the threat of an exit from the euro by Athens, inflame the spreads. In Italy peaks are being reached that have not been recorded since mid-January. The spread between 440-year BTPs and their corresponding German Bunds this morning has already exceeded 437 basis points, before falling back to XNUMX. The yield on the 10-year Italian bond is 5,84%, while the 2-year bond is 3,59%.
But it is the Spain to really be in the eye of the storm. The bad debts of the banking system ei worrying macro-economic data, they suggest that the situation in the Iberian country is more difficult than Prime Minister Mariano Rajoy thinks. Looking forward to this morning's Bonos auction, the spread with the Bund came close to 490 points, to then settle at 487.
In France, after "cold meeting" between the new premier Hollande and the German chancellor Angela Merkel, the spread has not undergone major changes, and continues to remain on 141 points, close to year-to-date highs.
