The BTP-Bund spread drops to 112 points, European bond yields down

The spread between BTPs and the German Bund opens the session with little change, with the yield differential between the two ten-year bonds dropping one basis point, to 113 basis points after the outcome of the American vote. The yields of all European bonds are decreasing, with the BTP dropping 3 basis points, to 4.43%.

A Congress with a Democratic majority fuels investors' expectations that US President Donald Trump's agenda will come to a sudden halt, easing pressure on US public debt: it is no coincidence that US Treasury yields drop 3.5 basis points, to 4.92%.