From yesterday:
Italy's Five Star Movement party has chosen to not take part in a parliamentary confidence vote today, in what should be a death blow to Draghi's government. It's a massive headache for all parties involved but also for the ECB. The central bank is looking to come up with a tool to deal with fragmentation risk (mostly Italy) and has to do so at a time when Italian politics is looking as shaky as ever.
10-year Italian bond yields are up 10 bps on the day to 3.33% and that is seeing the 10-year bond yields spread between Italy and Germany rise to 216 bps:
