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EURO GOVT-Italian yields fall, helped by ECB backstop
March 5, 2013 / 9:41 AM / 5 years ago

EURO GOVT-Italian yields fall, helped by ECB backstop

LONDON, March 5 (Reuters) - Italian 10-year yields fell on Tuesday as some yield-hungry investors bought the cheapened debt with the European Central Bank’s backstop offsetting concerns about potential fresh elections in the country.

Italian 10-year yields were last 12 basis points down on the day at 4.75 percent, within the range that has prevailed since Italy’s elections last weeek resulted in a hung parliament, raising the risk of a prolonged political impasse or fresh polls.

The German Bund future fell 40 ticks on the day to 145.11 as Italian bonds recovered some ground.

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