120
New difficult day for BTPs with the spread reaching new highs at around six weeks. The yield spread between BTPs and Bunds went up to 240, the highest since June 15th.
Yesterday S&P Global Ratings lowered the outlook for Italy to stable from positive, citing the recent political unrest that led to the resignation of Prime Minister Mario Draghi. The revised outlook reflects the risks to the nation’s growth and finances related to a slowdown or reversal of critical reforms.