Italy-Germany 10-Year Yield Spread Drops Below 250 Basis Points

Italian 10-year bonds extended an advance, narrowing the yield difference, or spread, over similar-maturity German bunds to less than 250 basis points for the first time since July 22, 2011.

The spread narrowed 12 basis points, or 0.12 percentage point, to 248 basis points as of 2:23 p.m. London time.

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