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The spread between BTP and Bund closes at 137 basis points – on Bloomberg screens – revisiting the lowest level in seven months, since last February. The Italian 10-year yield also revises its lows since February, falling to 0.86%.
Closing by Piazza Affari. The Ftse Mib Index gained 0.54% to 18,895 points.
Proven closing for the main European stock exchanges. Paris lost 0.4% to 4,772 points, while London (+ 0.43% to 5,832 points) and Frankfurt (+ 0.41% to 12,594 points) were positive.
Rebound of the European stock markets that, after the intense session yesterday conditioned by the fear of new blocks due to the growth of coronavirus infections, closed positively. And Milan presents the best result with + 0.54%. Piazza Affari has managed to register gains of more than 1% and the correction represents, in particular, a ‘reward’ to the signs of political stability that emerged from the voting test after the final results of the referendum and the administrative elections. A factor that has translated from the first days of the day into a cooling of the spread, which has slipped to minimum levels for seven months. The spread between BTP and Bund has returned below the 140 basis point threshold to 137 points, a level not seen since mid-February and which corresponds to less than half the value reached at the peak of the pandemic. The yield on the Italian 10-year bond fell to 0.86%, 10 basis points from last Friday, a level not seen since February 13 this year. “With the electoral result we eliminate part of the political risk in Italy”, comments the chief analyst of the Danske bank, Jens Peter Sorensen, and therefore “it is difficult to be negative about the Italian government bonds.
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