BTPs: a flood of selling, spread soars to 126 points, French 10-year bonds at 5.11 per cent

(Il Sole 24 Ore Radiocor) - A sell-off in government bonds on the secondary market, where the Bund remains a safe-haven asset, causing spreads to surge – particularly those on French and Italian bonds. Just over two hours after the market opened, bond sales have accelerated: the BTP/Bund spread, which had already opened significantly higher, now stands at 126 basis points, up from 115 at yesterday’s close, with a yield of 4.64 per cent, up from 4.57 per cent the previous day. The OAT/Bund spread has also risen sharply, standing at 173 basis points, with the yield on the French 10-year bond soaring to a new record high of 5.11 per cent.

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