Italian yields approach highs into close

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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