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Italian government bond yields soar amid rising coronavirus infections

UNITED STATES (OBSERVATORY NEWS) — Italian government bond yields jumped on Friday and safe government bonds rallied amid continued spread of coronavirus and a sharp weakening risk appetite.

The number of victims of the virus in Italy, which became the epicenter of the outbreak in Europe, rose to 17, and the number of infected – more than 200 people to 655.

The yield on Italian 10-year government bonds rose 10 basis points to 1.18% after rising to 1.20%, the highest since January 24.

The gap between the yield of 10-year Italian and German government bonds – one of the key risk indicators – has reached 178 basis points, a peak since the end of August.

Germany’s 10-year government bond yields fell below minus 0.60% for the first time since early October.

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