MILAN (Reuters) - The spread between the interest rates on ten-year Italian and German reference is pushed right up to the 220 basis points to 217 in the area, its lowest level since July 6, 2011, when he scored 207 basis points.

According to the trader, to determine the technical factors are shrinkage due to the lack of liquidity in the market holiday, but also the good performance of Italian bonds after auctions that have been well received by the market. Moreover, in a climate of reference interest rates low, the 'core' are penalized.

"Italy is doing well after auction won. Titles In an atmosphere of 'core' unchanged or negative, good Italian performance has a greater importance, "says an Italian trader. "The lack of liquidity does the rest. In this context it should, however, keep an eye on the yield of ten-year BTP, 4.11% in area, which has a value more important as an indicator of market trends."

< p> At about 16.10, the spread BTP / Bund at 217 basis points above a minimum at 216 after a closing Friday at 227, while the ten-year rate of 4.111% to 4.22% from a closing.

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