Mercoledì, 17 Ottobre 2018

Italian spread dips back under 300-points mark


Rome, December 4 - The spread between 10-year
Italian bonds and the German benchmark dipped back under the
psychologically important 300-points mark in early trading on
It dropped to 299 points with a yield of 4.40% in a sign
that pressure on Italy's borrowing costs is easing.
The spread - a key measure of market confidence in the
country's ability to weather the eurozone crisis - went under
the 300-points mark for the first time since March on Monday.
At its lowest on Monday, it descended to 292 basis points
before closing at 304 points.
The announcement on Monday of a Greek government plan to
buy back a big chunk of debt from private creditors, reassuring
investors wary of "peripheral" eurozone sovereign debt, helped
Italian bonds.
Austerity measures and structural economic reforms carried
out by Premier Mario Monti's emergency government have boosted
investor faith in Italy after the country's borrowing
costs looked in danger of becoming unsustainably high last year,
when the crisis forced Silvio Berlusconi to quit as premier.
Furthermore, Italy's borrowing costs have come down
significantly since July when European Central Bank President
Mario Draghi pledged to do whatever was necessary to support the
He followed those words with action in September, when the
ECB established a bond-buying program for stressed countries.

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