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Markets

Italian/German yield spread narrows before auction

Published January 13, 2012 Updated January 13, 2012 08:46am
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By Shoaib Ur Rehman
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germany-bondsLONDON: The yield spread between Italian and German bonds narrowed on Friday ahead of an Italian debt auction which was expected to be well received.

Market sentiment has improved towards lower-rated sovereign debt, after a sale of Spanish bonds and Italian T-bills on Thursday met with solid demand.

The 10-year Italian/German government bond yield spread narrowed 15 basis points to 466 bps -- near its lowest in one month.

The 10-year Spanish/German government bond yield spread tightened 7 bps to 327 bps.

Copyright Reuters, 2012

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