Economic news

Italian Yields Gain as Traders Digest Virus Sway on Markets

After a solid rally the earlier day, Italian government bonds changed the direction on Friday as traders reconsidered the seriousness of the 2019-nCov coronavirus on worldwide monetary development.

ecbPhoto: Flickr

Italy drove a rally in eurozone bond markets on Thursday, with 10-year yields hitting four-month lows on developing certainty that the ECB will keep money related approach easy for longer to shield the economy from the impacts of the coronavirus.

Yet, on Friday, Italian yields were failing to meet expectations the market, exchanging last up 3 bps at 0.92 percent, away from the 0.86 percent low observed on Thursday.

Yields across other eurozone markets were generally steady, with the benchmark German 10-year Bund yield unchanged at minus 0.39 percent.

Traders dismissed the way that the German economy stagnated in the final quarter as both private consumption and state spending lost force.

Source: Reuters

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