September 12, 2017 / 6:55 AM / 13 days ago

Spanish bonds underperform Italy as Catalan concerns grow

LONDON, Sept 12 (Reuters) - The gap between Spanish and Italian government borrowing costs narrowed to its tightest level in more than two months on Tuesday on growing investor concerns over an upcoming independence vote in the Spanish region of Catalonia.

Around one million Catalans rallied in Barcelona on Monday, waving red and yellow striped flags and banging drums, in a show of support for independence after Madrid moved to block a referendum on the region’s split from Spain.

The Spain-Italy 10-year government bond yield spread tightened to 50.7 basis points on Tuesday, the tightest level since June 27. (Reporting by Abhinav Ramnarayan; Editing by Saikat Chatterjee)

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