LONDON: Italy's 10-year bond yield fell to a record low on Wednesday as the country's borrowing costs tumbled on growing hopes that a new government will soon be formed, and new elections averted.
It fell to as low as 1.025%, down 11 basis points on the day, pushing the gap over Germany's 10-year bond yield to 173 bps, its tightest since May 2018.
Tense talks aimed at forming a new Italian government inched forward on Wednesday as two major political parties, struggling to bury years of hostility and avoid snap elections, agreed to re-install Giuseppe Conte as prime minister.
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