September 19, 2017 / 6:30 AM / 10 months ago

Portugal's bond yield spread over Italy narrows to pre-crisis levels

LONDON, Sept 19 (Reuters) - The gap between Portuguese and Italian 10-year government bond yields narrowed on Tuesday to levels last seen at the start of the euro zone debt crisis of 2010-2012.

This follows a strong rally in Portuguese debt over the last two sessions after S&P Global became the first major ratings agency to give the country back its investment grade status late on Friday.

Portugal’s 10-year government bond yield spread over Italy narrowed to 36 basis points, the lowest since March 2010.

In absolute terms, Portugal’s 10-year government bond yields dropped 6 basis points to 2.43 percent. (Reporting by Abhinav Ramnarayan, Editing by Sujata Rao)

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