BTPs jettisoned amid coalition worries but bankers see positives

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By Craig McGlashan
17 May 2018

Investors dumped BTPs this week as far from market-friendly plans emerged from talks this week between the Five Star Movement and the Northern League, which looked set to form a government as GlobalCapital went to press. But there were still some notes of optimism as Italy sold the latest line of its BTP Italia product with little fuss and bankers said BTP yields were still very far from crisis levels.

Italy’s 10 year yield closed on Thursday at 2.121%, having started the week at 1.881% and been as low as 1.74% earlier in the month, before Five Star and the League looked likely to form a government. But the yield was still below the around 2.18% highs for ...

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