UPDATE 1-Southern European bonds yields rise as EU meeting disappoints [Reuters]
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Source: Reuters
UPDATE 1-Southern European bonds yields rise as EU meeting disappoints (Updates with details, comment, context) By Elizabeth Howcroft LONDON, April 24 (Reuters) - Italian government bond yields rose on Friday after European Union leaders agreed to build a trillion-euro emergency fund to help recover from the coronavirus pandemic, although they gave no details of the size, speed and structure of the package. The EU leaders agreed late Thursday in principle to a 1.5 trillion-euro rescue package to share the economic cost of the pandemic, which is falling disproportionately on Southern European states. But a decision on the details of the programme was delayed until Summer. Short-dated Italian bonds yields jumped 12 basis points . Italy’s 10-year bond yield was up 7 bps at 2.08% and the Italian/German 10-year bond yield gap was 14 bps wider from late Thursday, at around 252 bps, erasing Thursday’s narrowing. At around 1% of the EU’s economic output, the multi-year common budget, the mult
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