April 24, 2020 / 6:41 AM / a month ago

Italian bond yields rise after EU leaders' meeting

LONDON, April 24 (Reuters) - Italian government bond yields rose on Friday after European Union leaders agreed on Thursday to build a trillion euro emergency fund to help recover from the coronavirus pandemic though the size, speed and structure of the fund remained unclear.

Benchmark yields on Italian 10-year government debt rose 9 basis points to 2.09%, while Greek yields also rose. The closely-watched spread between Italian and German 10-year bond yields widened by 17 bps compared to late Thursday’s levels, at 254.7 bps.

Despite the agreement by EU leaders, French President Emmanuel Macron said differences continued between EU governments over whether the fund should be transferring grant money, or simply making loans. (Reporting by Elizabeth Howcroft; Editing by Saikat Chatterjee)

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