August 11, 2017 / 6:25 AM / 7 months ago

Italy-Germany bond yield spread widens to three-week high as geopolitics bites

LONDON, Aug 11 (Reuters) - The gap between Italian and German borrowing costs reached its widest level in over three weeks on Friday as geopolitical concerns drove investors towards better-rated bonds.

The Italy-Germany 10-year government bond yield spread widened to 162 basis points, as much as 10 basis points wider than a month ago.

Also on Friday, German 10-year government bond yields dipped below 0.40 percent for the first time since June 29.

German Bunds are considered among the safest securities in the world, and they have been in demand this week as North Korea outlined plans for a missile strike near the U.S. territory of Guam. (Reporting by Abhinav Ramnarayan, editing by Larry King)

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