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"Our feeling is that both have come a long way and there's a few short-term profit takers, and also volumes have substantially reduced and any selling is having an aggravated effect on the market," a trader said, adding he had not seen any large-scale selling in either country.
Ten-year Italian government bond yields rose 13 basis points on the day to 4.59 percent, while equivalent Spanish bonds yielded 5.53 percent, 10 basis points more than in the previous session.