The spread between Italy's 10-year
BTP State bond and the German benchmark rose sharply in trading
on Monday after Greece's No vote to creditors' proposals
in Sunday's referendum. The spread shot up to 165 basis points
at the opening of trading, from 145 at Friday's closing, before
dropping back to 162 points with a yield of 2.38% at the close.
The spread is a measure of market confidence in Italy's ability
to withstand ripple effects from the Greek debt crisis.
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