Sabato, 20 Ottobre 2018

Spreads narrow in Spain and Italy


(ANSA) - Milan, August 17 - The spreads in Italy and Spain
continued to narrow and markets were positive in early trading
across Europe on Friday, a day after investors were encouraged
by Chancellor Angela Merkel's statements that Germany was
"aligned" with the European Central Bank.
The spread between Italian 10-year bonds and the German
bund, an important indicator of investor confidence in Italy's
ability to pull out of the euro crisis, was 422.5 points with a
shrinking yield of 5.751%.
The equivalent Spanish spread, which Thursday dropped below
500 points for the first time in a month and a half, continued
to narrow to 493.7 points with a 6.461% yield.
Merkel boosted market confidence a day earlier by saying
the ECB is "completely aligned" with Germany in its approach to
handling the continuing euro sovereign-debt crisis.
Her remarks came shortly after an opinion piece by two
politicians from Merkel's governing coalition was issued in
economic daily Handelsblatt, attacking ECB chief Mario Draghi
for allegedly being too lenient on errant eurozone economies,
accusing him of turning the ECB into a "bad bank".

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