Sabato, 20 Ottobre 2018

Italian bond spread falls to 428, markets mixed


(ANSA) - Milan, September 4 - The spread between Italian
and German bond rates fell 11 basis points to close at 428
Tuesday, with Italian 10-year bonds yielding 5.66%.
Italy's central bank issued a report Tuesday saying the
spread should be "on the order of 200" basis points, given the
state of the Italian economy and blamed "contagion" for the
Also on Tuesday, Italian Premier Mario Monti told reporters
after meeting French President Francois Hollande in Rome that
Italy and France will work to ensure the measures agreed by
European leaders in June to lower the borrowing costs of the
countries hit by the eurozone debt crisis are fully applied.
And markets are anxiously awaiting a policy meeting of the
European Central Bank set for Thursday.
The ECB is working on drafting a mechanism to buy bonds in
the secondary market to lower the borrowing costs of countries
with sovereign debt troubles.
Spanish bonds also benefited Tuesday from expectations of
European structural relief for borrowing costs.
The spread between Spanish bonds and the German benchmark
closed at 518 basis points after reaching a high of 550 basis
points during the day. The yield on ten year Spanish bonds
closed at 6.56%.
European markets were mixed today.
Closing down were Paris's CAC 40 (-1.58%), London's
FTSE-100 (-1.5%), Frankfurt's DAX (-1.17%), and Milan's FTSE MIB
Madrid's IBEX (+0.73%) and Athen's General Index (+1.46%)
closed up.

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