Surprisingly the euro positive effect is nil.
Italian bonds are currently posting a low of 3.990% , down 2% on the day, to levels not see since Nov 2010. They are down almost 5% over the last two days.
Yesterday we had Italian parliament president raining fire and brimstone at politician at his inauguration but I can’t see that as the main reason yields are sliding. The ECB comments this morning twinned with Japanese lifers talking about raising foreign holdings are more likely the cause.
Spain is also posting lows of 4.338% down 3.83% on the day
Italian and Spanish stocks are also posting decent gains with Italy’s FTSE Mib up 1% and Spain’s IBEX up 1.3%
