Italy Is Comeback Story of the Year for European Bond Markets
- Nation’s benchmark debt is top euro-area performer in quarter
- Long-dated yields have hit record low even amid signs of risk
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Investors in Italian bonds are enjoying the best quarter in a year, in a sharp turnaround for one of the euro area’s riskier markets.
The country’s benchmark debt is the region’s best performer for the July-September period and returned over 5% this year, data compiled by Bloomberg show. Yields on Italian 30-year bonds hit a record low this week. That contrasts with a dramatic sell-off in the first quarter after Italy became Europe’s first nation to trigger a nationwide lockdown to contain the coronavirus.