LONDON: Italian government bond yields dropped across the board on Thursday after the country's government cut its deficit goal for 2019 and Prime Minister Giuseppe Conte said he expected a positive response from the European Union.
Italy's 10-year government bond yield dropped to its lowest level in 2-1/2 months as a result, trading at 2.957 percent before settling at 2.98 percent, still down three basis points on the day.
Two-year and five-year Italian yields were lower by 4 basis points each.
The Italy/Germany 10-year bond yield spread was at its tightest since October 1 at 270 basis points.
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