Rome

Italian spread drops to lowest level since August 2011

Yield down to 4.2%

Italian spread drops to lowest level since August 2011

Rome, January 3 - The yield spread between 10-year Italian bonds and the German benchmark one, a barometer of Italy's borrowing costs in the eurozone crisis, fell as low as 276 points in Thursday's trading. The spread had not dropped under 276 points since August 2011, three months before then premier Silvio Berlusconi was forced to resign amid a spiralling debt crisis, after which Mario Monti took over with an emergency technocrat government. Italian 10-year yields were trading at 4.2%. Italian two-year bond yields were trading at 1.7%, the lowest levels since October 2010.

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