Before the Italian President Sergio Mattarella rejected the proposed eurosceptic finance minister Paolo Savona, many market commentators were saying that a yield of 2.5% for 10-year Italian sovereign bonds is a key level for the European Central Bank (ECB).
At that level, it is thought the bank would start to buy more bonds and prevent yields rising further - I said that would not be the case. In recent days Italian bond yields moved over 3%. Although...
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