Selloff in BTPs continue
2-year yields are up by more than 100 bps on the day, now surpassing 2%. Feels like it's only a matter of time till yields surpass that of the US at this point. Couldn't believe I'd be saying that at the start of the month really.
Meanwhile, 10-year yields are also holding above 3% currently as the rout in bonds is also deepening woes for Italian bank stocks. The MIB is now down by more than 3% on the day and that is helping to pin down the euro further.
EUR/USD is now down to a low of 1.1531 on the day with EUR/JPY falling by more than 1.5% currently to a low of 125.12.
This is truly a bloodbath.
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