Top BTp rates from 2018 at auction: this is why this binds the Government’s hands

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With the slowdown recorded in the first quarter, Italy’s GDP still remains 0.4 points below pre-pandemic levels. On the other hand, the yields on government bonds have returned abundantly to the levels prior to Covid: in the auction on Friday, in which the Treasury placed 6.5 billion BTp in 5 and 10 years, interest rates rose on the levels of November 2018 for five years (1.91%) and on those of February 2019 for ten years (2.78%). Adapting to the movements recorded on …