Italy's State bonds came under
renewed pressure and the Milan stock exchange shed 2% in early
trading on Friday after the European Central Bank said Thursday
that it was halting its bond-buying programme and signalling it
was set to raise interest rates several times.
The spread between Italy's 10-year BTP and the German Bund
climbed to 223 basis points early on Friday, the highest level
since May 2020, and the yield reached 3.65%, its highest level
since October 2018.
The spread closed on 216 points on Thursday, having risen by 22
points in one day.
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