Yields are rising, the Italian ten-year is at 4.7%
The spread rises again. The differential between Btp and Bund, swinging since the start, reaches 131 basis points, again at the levels of April 2025. The yield also climbs, with the Italian ten-year at 4.7 percent.
European markets are on the rise, with the spotlight on Hormuz and on US employment data that could carry significant weight for the Fed's interest rate path. The Old Continent's index, the Stoxx 600, gains more than half a percentage point, with momentum driven mainly by tech stocks. Financials and energy, however, remain weak — the latter with the drop in oil. Brent stays below 100 dollars (-2.4%) while Wti is below 90 dollars (-3.7%). The decline was reportedly due to reports that some European countries are discussing releasing strategic reserves to ease the surge in fuel prices. The price of gas falls 1.27%, with Ttf contracts at 73 euros per megawatt-hour.
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