Ahead of the new year comes a rollover for Italy's benchmark 10 year BTPs, the 2022 bond...

|By:, SA News Editor

Ahead of the new year comes a rollover for Italy's benchmark 10 year BTPs, the 2022 bond replacing the 2021. Trouble is, the new bond yields above 7% vs. the existing at just 6.68%. Italy claims this is for technical reasons (low liquidity), preparing traders for the shock coming tomorrow when it will appear yields are soaring.