Spread down to 9-mt low of 235

(ANSA) - Rome, June 20 - The spread between Italian and German 10-year bind yields dropped to a nine-month low of 235 points Thursday, compared to 240 at Wednesday's closeas investors saw a less confrontational government stance towards the European Commission in talks to avert an infringement procedure for breaking the debt rule.
    This is its lowest level since last September.
    The yield on the BTP hit a recent low of 2.03%.
    The spread closed two points down on 240 basis points Wednesday with the yield on the BTP falling to 2.10%.
    The spread closed 11 points down on 243 basis points Tuesday after European Central Bank chief Mario Draghi pledged further stimulus if the eurozone economy fails to pick up.
    The yield on the BTP fell to 2.11%.
    Earlier in the day the spread fell below 240 for the first time since March, to 236.8, with the yield at 2.05%.
    The spread closed six points down on 254 basis points Monday with the yield on the BTP falling to 2.29%.
    The spread rose as high as 330 at the end of November amid a budget standoff with the EU, which saw Italy eventually climb down and lower its planned deficit from 2.4% to 2.04% this year.