Italian bond spread edges down after Wednesday's turmoil

Drops to 371.1 basis points

Italian bond spread edges down after Wednesday's turmoil

(ANSA) - Rome, September 27 - The spread between 10-year Italian bonds and the German benchmark eased back a little following the opening of business on Thursday after Italy's State paper came under heavy pressure on Wednesday. The spread edged down to 371.1 basis points with a yield of 5.1% after closing at 375 points on Wednesday. The yield spread, a barometer of Italy's borrowing costs and of investor confidence in its ability to weather the eurozone crisis, shot up 24 points Wednesday amid concerns Spain is close to requesting EU rescue funds. 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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