Milan

Italy's spread nudges up to 253 basis points

Yield on 10-year bonds hovers at 4.4%

Italy's spread nudges up to 253 basis points

Milan, August 27 - The spread between Italy's 10-year bond and its German counterpart perked up slightly at Tuesday's market opening to 253 basis points compared to Monday's closing at 249 basis points. The yield on the 10-year paper opened at 4.4%, a fraction above Monday's close at 4.38%. The spread between lending rates in the two countries is seen as an indication of investor faith in the Italian economy and its ability to cope with a lingering recession. Milan's top stock exchange plunged dramatically Monday amid investors' fears that Italy's fragile coalition government could collapse over a controversy involving ex-premier Silvio Berlusconi.

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