Italian and Spanish bonds to bunds spreads are up for the first time since the ECB commenced bond-buying on Monday.
This should come as no surprise to analysts, who quickly realised that the ECB’s newest attempt to fix the eurozone crisis was merely a temporary stopgap.
10-year notes in Italy and Spain are still down on the day (though Spanish bonds were briefly up), but definitely look like they’re on the rise.
Though spreads for both countries are still far below last week’s peaks, this could very well mark a critical point in the curve.
[credit provider=”Bloomberg” url=”http://www.bloomberg.com/apps/quote?ticker=.SPAGER10:IND”]
[credit provider=”Bloomberg” url=”http://www.bloomberg.com/apps/quote?ticker=.ITAGER10:IND”]