Rome

Italian bond spread drops to 450 points

Yield below 6% at 5.87%

Italian bond spread drops to 450 points

(ANSA) - Rome, July 27 - The spread between 10-year-old Italian bonds and the benchmark German bund dropped sharply again on Friday, falling to 450.6 points with a yield of 5.87%. The yield spread, an important indicator of the level of Italy's borrowing costs and market confidence in the country, had dropped by 46 points on Thursday to close at 473 after European Central Bank President Mario Draghi said he would do "everything" to save the euro. It climbed back up to 484 points at one point in early trading on Friday before shooting back down.

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