October 25, 2018 / 6:49 AM / a month ago

Italian govt bond yields fall as Di Maio backs euro again

LONDON, Oct 25 (Reuters) - Italian government bond yields fell on Thursday after Italian deputy prime minister Luigi Di Maio repeated that Rome does not want to exit the euro, and ahead of the European Central Bank’s meeting on Thursday.

Di Maio said he is confident that the Italy/Germany bond yield spread will fall in the next few weeks while reiterating that the Italian government does not want to exit the euro. However, he said he does not think the 2019 budget deficit target should be changed.

Italian government bond yields fell up to five basis points in early trade with its five-year government bond yield at a low of 2.84 pct.

The Italy/Germany bond yield gap rose to as high as 323 bps, its second widest level since 2013, before retreating to 318 bps. (Reporting by Virginia Furness Editing by Tommy Wilkes)

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