🇪🇺 Italy's BTP spread is near post-Lehman lows even as the ECB hikes. The conventional playbook doesn't hold. Home Tags The day in view 🇪🇺 Italy's BTP spread is near post-Lehman lows even as the ECB hikes. The conventional playbook doesn't hold. Macro Soup Newsroom June 26, 2026 3 min read Share on X Share on Facebook Share on LinkedIn Share on Pinterest Email Copy link Italy's 10-year BTP cleared at 3.63% today with the BTP-Bund spread near 61 basis points, despite an ECB rate hike two weeks ago. The spread playbook that governed prior hiking cycles doesn't apply anymore, and the reasons are structural. Read next Featured Post The day in view 📰 Daily Macro Roundup: 2026-07-13 Paid Post The day in view 🇨🇳 China's AI export boom masks a consumer economy that's still shrinking
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