Italian Two-Year Yield Drops After Letta Wins Confidence Vote

 

Italy’s two-year sovereign bond yield fell to 1.69 percent yesterday, the lowest in eight weeks, after Enrico Letta won a confidence vote in parliament, avoiding the risk of another election. Letta was supported by 235 senators while 70 opposed him during yesterday’s vote. Former Premier Silvio Berlusconi backtracked on a pledge to bring down the government amid signs his party will desert him. — Niraj Shah, Bloomberg Economist

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