Italian 10 year bond yield drops sharply today as, Deputy Prime Minister Matteo Salvini reiterated the pledge not to blow up public accounts ahead of budget meeting. Salvini, leader of the far right League, said in a newspaper interview that “clearly we will not do everything in one shot, not even Italians expect that from us… If we want to run the country for a long period we cannot blow up its public accounts.”
10 year Italian yield drops -0.088 to 2.943 so far today. It hit as high as 3.281 last week. The development suggests that investors concern over Italian budget is eased.
