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Italy’s Bonds Cap Pandemic Turnaround With Yields at Record Low

  • Nation’s debt is on course for sixth straight weekly advance
  • Market is supported by ECB support, fading political risks
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A rally in Italian bonds sent benchmark yields to a record low as political risks are fading and the debt has backing from European institutions.

The country’s 10-year yield slid to an all-time low of 0.712% Friday. The rally marks a sharp turnaround for one of the region’s riskier markets, less than seven months after yields climbed to a high just shy of 3%.