Martedì, 16 Ottobre 2018

Italian spread reaches lowest level since July 2011


Rome, January 10 - The spread between 10-year
Italian bonds and the German benchmark dropped to its lowest
level since July 2011 on Thursday when it fell below the
270-basis-points mark to 267, with a yield of 4.17%.
The spread is a key measure of Italy's borrowing costs and
of investor confidence in the country's ability to weather the
eurozone crisis.
It started the day at 279.7 points, but positive bond sales
in Italy and Spain contributed to it coming down.
The interest rate on 12-month Italian BOT bonds fell
sharply to 0.864% at an auction on Thursday, compared to 1.456%
in the last equivalent sale in December.
The rate is the lowest registered for the 12-month bonds
since January 2010.
The Treasury sold 8.5 billion euros' worth of bonds at the
When outgoing Premier Mario Monti took over the helm of
government from Silvio Berlusconi in November 2011, the spread
was over 500 points and the yield was hovering around the 7%
mark considered unsustainable in the long term.

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