Italy 10-year yield dropped to record low of 0.501% in early trading and remains low for the moment. Former ECB President Mario Draghi seemed to be winning confidence from a wide spectrum of political parties, as well as investors, for forming a new government.
Draghi will continue to meet with parties to get their backing. Yesterday, he reiterated that a common Euro-are budget will be one of his key priorities. He’s seen as someone who’s “pro-EU” and “pro-reform” at the same time, who could prompt a paradigm shift for the country.