Italy might be relying on the hope of a new round of government-bond purchases by the European Central Bank to shield its public debt from financial speculation and the threats of a rating downgrade.
Newspaper La Stampa reported that the government may reach out to the ECB about such a move. The new QE-styled program could have a different name if needed, La Stampa said, citing an unnamed official and providing no further details.
The euro weakened for the first time in four days, slipping 0.2 percent to $1.1678 as of 9:30 a.m. Rome time. Italian bonds rose, pushing 10-year yields down 3 basis points to 3.16 percent as of 10:21 a.m. Rome time.
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