November 15, 2018 / 8:05 AM / 8 months ago

Italian bond yields drop on reports Italy PM Conte seeks to work with EU on budget

LONDON, Nov 15 (Reuters) - Italian government bond yields dropped on Thursday, coming off recent highs, with two analysts citing local reports that Prime Minister Giuseppe Conte is seeking to work with the European Union on a budget impasse as the main cause.

Short-dated two-year and five-year Italian bond yields dropped three basis points each in early trade.

The yield on Italy’s benchmark 10-year bond was lower by four bps at 3.46 percent, while the closely-watched spread over Germany tightened to 307 bps. (Reporting by Abhinav Ramnarayan Editing by Tommy Wilkes)

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