The Italian spread "breaks through" the 100 basis point threshold for the first time since spring 2025.

This is indicated by the prices on the Italian stock exchange, which show a peak in the yield spread of 100.17. On Bloomberg, the spread stands at 99 basis points.

  The surge in the spread is accompanied by the energy shock and debt tensions centered on US Treasuries, which are further impacting France, whose spread against the Bund is at 119.  

The yield on the 10-year Italian government bond (BTP) also rose, rising to 4.62% from 4.59% at the previous day's closing, reaching levels not seen since October 2023. The yield on the German Bund closed the session essentially stable at 3.63%, while the 10-year French OAT ended the session at 4.81%, still at its highest level in 18 years, with the spread against the German Bund now hovering around 120 basis points.

The US bond market remains tense, with the 30-year Treasury bond currently hovering around 5.59%, its highest level since 2002.

(Unioneonline)