November 23, 2018 / 8:05 AM / 19 days ago

Italy's two-year bond yield slides after report Italy EU affairs minister considers quitting

LONDON, Nov 23 (Reuters) - Italy’s two-year bond yield tumbled to a two-month low on Friday, following a press report that Italy’s EU Affairs Minister Paolo Savona is considering resigning over the government’s decision to challenge European Union budget rules.

Analysts said that because Savona is known for his euroscepticism, markets were taking Friday’s report from daily Corriere Della Sera in a positive light.

Italy’s two-year bond yield fell 11 basis points to 0.892 percent. It has fallen over 40 bps this week and is set for its biggest weekly fall since early September.

Italy’s 10-year bond yield fell 5 bps to 3.39 percent, pushing the gap over German bund yields to around 301 bps — its tightest in more than a week. (Reporting by Dhara Ranasinghe; Editing by Tom Finn)

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