Rome

Spread hits Monti goal of 287 points

Yield 4.30%, lowest since Dec 2010

Spread hits Monti goal of 287 points

Rome, January 2 - The spread between Italian 10-year bonds and the German benchmark, the key gauge of market confidence in Italy's ability to pay down its huge debt, fell to 287 points Wednesday, a landmark policy goal set by outgoing premier Mario Monti. A spread of 287 is exactly half the level it was at when Monti took over from Silvio Berlusconi with Italy at the centre of the eurozone debt crisis in November 2011. The yield fell Wednesday to 4.30%, its lowest since December 2010. When economist and former European commissioner Monti took the helm from Berlusconi the yield was stuck at the long-term unsustainable mark of 7%.

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