Italy’s bonds are eurozone’s ‘high-yielding play’ of the summer

Italy offers the biggest yields in the region, with its 10-year bonds at around 1.2%, higher even than Greek notes, which have long been the pariah in the region. For that, investors still get an investment-grade asset, as well as the safety of a liquid market. (File pic shows people waving Italian flags during a rally on July 4. - Reuters)

BRUSSELS: Investors are snapping up Italy’s government debt with as much appetite as during previous European summers, when the high yields proved the perfect place to pick up a steady return while volatility is low.

And the global pandemic, predicted to slash 11% off the nation’s economy this year – the worst in the euro area – isn’t putting them off.