With minutes to go before the European close, Italian bond yields are moving back to near their highs of earlier this morning. The 10 yr in particular is at 6.65% vs the 3:30am intraday high of 6.68%. The 5 yr yield has broken out to new highs at 6.69%. The 2 yr yield though at 5.97%, up 50 bps on the day, is still below the intraday high of 6.19% at around 4:30am.
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