10-yr bond yield drops to euro-era low

P(ANSA) – Rome, May 6 – The yield on Italy’s 10-year BTP State bond dropped to 3.02% on Tuesday, the lowest since the euro was introduced to world financial markets as an accounting currency in 1999. The spread between the 10-year BTP and the ultra-safe German bund, a key measure of Italy’s borrowing costs and of investor confidence, dropped to 154 basis points, the lowest level since May 2011. Italy risked a Greek-style financial meltdown later that year when the spread went over 500 points with yields above 7%.BRThe country’s borrowing costs have been falling since Premier Matteo Renzi unseated his Democratic Party colleague Enrico Letta in February and took the helm of government promising to revive the economy and reform the country’s slow and expensive political system.BR/P
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