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Italian bonds find relief to start the week as politics remain in focus


Italian bonds are set to start the week taking some relief after Giorgia Meloni, the next prime minister’s favorite based on latest sentiment, said she would stick to EU budget decisions. That at least reassures bond investors, amid fears that the election could see Italy drift further away from the EU.

2-year yields are currently down 9 basis points to 1.319% and we see the yield spread between Italian and German 10-year bonds narrowing to 222 basis points. In some contexts, it reached 262 basis points at the end of last week.

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