LONDON: Italian government bond futures opened down on Friday after Italy's top court upheld a jail sentence against former premier Silvio Berlusconi that could throw the country's coalition into crisis.
The bonds, however, outperformed German Bunds ahead of US jobs figures due later in the day.
Italy's top judges ordered a review by a Milan court of the second part of Berlusconi's sentence, a five-year ban from public office, enabling him to remain a senator and leader of his centre-right People of Freedom Party (PDL) for the moment.
"In the first instance people just want to wait and see what comes out of Berlusconi's party ... It's too early to say which way the (Italian market) will go," said Marc Ostwald, a strategist at Monument Securities. "Most people don't want to make markets in any case any more."
Italian BTP futures were last 4 ticks down at 111.67 while Bund futures were 17 ticks lower at 142.22 before US non-farm payrolls data later in the session that some market participants say could beat forecasts after a slew of upbeat US data this week.
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