Martedì, 23 Ottobre 2018

Fresh market turmoil, Italian yield spread hits 500 mark


(ANSA) - Rome, July 20 - Markets were in turmoil hours
before closing and borrowing costs in Italy and Spain rose as
eurozone finance ministers approved a rescue package to shore up
struggling Spanish banks on Friday.
The Milan stock exchange fell amid fears of contagion, with
the Ftse Mib index losing 3.7% by 15:25 local time. The Madrid
bourse also lost around 3%.
The yield spread between Italian 10-year bonds and their
German benchmark equivalent, a key indicator of the country's
ability to weather the economic crisis, reached 500 points on
Friday afternoon.
The spread between Spanish bonds and the German bund
reached 601 points, a new record high.
The yield on 10-year Italian bonds rose to 6.16%, while
that on the Spanish equivalent exceeded the critical level of 7%
to reach 7.17%.

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