Mercoledì, 17 Ottobre 2018

Spread see-saws on Italian government hopes


Rome, April 25 - Pressure on Italian bonds see-sawed
Thursday amid cautious optimism that Italy is heading towards a
new government.
The spread between the 10-year Italian bond and the German
benchmark, a key measure of Italy's borrowing costs and of
investor confidence, rose to 289 basis points before falling to
285 with a yield of 4.09% Monday, compared to 297 at Friday's
Giorgio Napolitano's re-election as president Saturday has
boosted hopes Italy will soon have a government after two months
of political deadlock following February's inconclusive general
Napolitano handed a mandate to centre-left Democratic Party
(PD) deputy head Enrico Letta Wednesday to try to form a
left-right coalition government by Monday.
Letta said he was optimistic but acknowledged it could be
hard to reconcile the deeply divided PD and its arch-enemy,
Silvio Berlusconi's conservative People of Freedom (PdL) party.

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