Just worth recapping a RTRS source piece......>

ITALY: Just worth recapping a RTRS source piece run after yesterday's BTP close:

"Italy's budget deficit will be near 10% of gross domestic product this year, a

senior government official told Reuters, as Rome increases borrowing to try to

soften the impact of the new coronavirus and the economy plunges into a deep

recession. The government began the year with a target of a 2.2% deficit this

year after the 1.6% reported in 2019, which was the lowest in 12 years. But

those plans have been upended by the virus outbreak. The last time Italy

registered a double-digit deficit was in the early 1990s."