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BTP Spreads Fall, EUR Higher As Draghi Reportedly Hasn't Resigned

ITALY

10Y BTP/Bund spreads fall 5+bp to the tightest levels since the open (205-206bp) amid headlines (originally reported by Ansa) that PM Draghi hasn't submitted his resignation to the president.

  • There''d been speculation that Draghi's meeting with Pres Mattarella earlier today could have resulted in Draghi quitting. There will be a Cabinet meeting at 1715BST/1815CET, according to the reports.
  • EURUSD also ticking to the highest levels since this morning, back above parity.

Italy 10Y Spread / GermanySource: BBG, MNI

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10Y BTP/Bund spreads fall 5+bp to the tightest levels since the open (205-206bp) amid headlines (originally reported by Ansa) that PM Draghi hasn't submitted his resignation to the president.

  • There''d been speculation that Draghi's meeting with Pres Mattarella earlier today could have resulted in Draghi quitting. There will be a Cabinet meeting at 1715BST/1815CET, according to the reports.
  • EURUSD also ticking to the highest levels since this morning, back above parity.

Italy 10Y Spread / GermanySource: BBG, MNI