Martedì, 25 Settembre 2018

German contractions up pressure on Spanish, Italian bonds


(ANSA) - Milan, August 23 - Bad economic data from Germany
put renewed pressure on Spanish and Italian bonds Thursday in
midday trading.
The spread between 10-year Spanish bonds and the German
benchmark bund, an indicator of investor confidence in Spain's
ability to weather the euro crisis, was at 501 points,
surpassing the psychologically important 500-point threshold,
with a yield of 6.39%.
The equivalent spread between Italian and German bonds was
433, up from 420, with a growing yield of 5.72%.
Investor confidence was soured by data Thursday that showed
Germany's small and medium businesses suffered an unexpected
contraction in August, down to 48.3 points from 50.3 on the
Markit index.
The country also registered its seventh-consecutive
private-sector contraction, prompting investors to fear that the
mighty German economy is being pulled into the eurozone crisis.

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