June 5, 2018 / 11:01 AM / 20 days ago

Italy's bonds yields rise after new PM promises "radical change"

LONDON, June 5 (Reuters) - Italy’s government bonds sold off on Tuesday, after the country’s new Prime Minister Guiseppe Conte promised to bring radical change as he sought parliamentary backing for an anti-establishment government.

The yield on Italy’s government bonds rose sharply after the speech, with 10-year borrowing costs up 10 basis points on the day at 2.67 percent and 2-year yields up 6 bps at 0.86 percent.

Italy’s 10-year bond yield spread over Germany widened to 226 bps, from 213 bps the day before. (Reporting by Abhinav Ramnarayan; editing by Dhara Ranasinghe)

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