Italian bond spread shoots over 370-point mark

Investors concerned about deepening recession

Italian bond spread shoots over 370-point mark

(ANSA) - Rome, September 26 - The spread between 10-year Italian bonds and the German benchmark shot up by 20 points in early trading on Wednesday to reach 371 basis points with a yield of 5.22%. Investors are concerned about the state of the Italian economy after ratings agency Standard & Poor's said Tuesday that it saw signs that the recession in Spain and Italy is deepening. The spread is a key barometer of Italy's borrowing costs and of market confidence in the country's ability to weather the eurozone crisis. It had dropped in recent weeks after the European Central Bank announced plans to buy the bonds of countries at the centre of the eurozone crisis that are facing high borrowing costs.

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