March 26, 2020 / 7:50 AM / 10 days ago

Italian bond yields drop as ECB removes barriers in crisis fighting purchases

LONDON, March 26 (Reuters) - Italian government bond yields fell across the curve on Thursday after the European Central Bank said it will not apply its self-imposed purchase limits on a 750 billion euro coronavirus crisis-fighting bond purchase scheme.

The ECB also said it would buy debt with maturity as short as 70 days, compared with one year under previous purchases.

Short-dated Italian bonds were the biggest beneficiary, with yields plunging 12 bps to 0.40% after rocketing to a more than one-year high above 2% last week. Italian 10-year bond yields fell 7 bps to 1.49%, a near two-week low. (Reporting by Saikat Chatterjee; Editing by Dhara Ranasinghe)

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