Skip to content
Subscriber Only

Euro, Italian Bonds Jump After European Migration Deal Reached

  • Italy yields drop to lowest level this week as tensions cool
  • Migration is a key issue for Italian populists, Germany’s CSU

The euro and Italian bonds rallied after European Union leaders agreed to a package of measures to help the country deal with migration, an issue that had threatened to create political rifts in the region.

The common currency surged by the most in a month and Italian securities jumped across the board, with yields on the 10-year benchmark dropping to the lowest level this week. Italian stocks rallied as much as 1.6 percent. Rookie Italian Prime Minister Giuseppe Conte said the country was “no longer alone” following the deal to stem the flow of migrants into the bloc and spread the burden of handling those who do arrive.