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Forex Flash: Italian and Spanish banks bought more sovereign bonds in March - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that Italian and Spanish banks bought more sovereign bonds in March and this is paying off here in April.

Over the past month, they see that Italy's 10-year bond yield has fallen almost 50 bp and the Spanish 10-year yield has rumbled lower by nearly 70 bp. Further, Italy sold 6-month bills today at record low yield and there appears to be progress toward forming a new government in Italy, but it still seems several days away at least. The Spanish government is expected to unveil a 3-year growth plan before the weekend.

Forex Flash: Italian situation ‘desperate’ – Deutsche Bank

In Italy, the PM-designate Enrico Letta continued in his efforts to form government. Early yesterday there were reports that the situation was desperate, but later the center-right's Angelino Alfano said that progress was being made toward an agreement to form a left-right coalition after meeting with Letta yesterday.
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Forex: GBP/USD still eyeing the 1.5500 mark

The GBP/USD almost reached 1.5500 on the release of US GDP Q1 and was able to consolidate its gains above 1.5470. Slowly, the market has been pushing towards the upside as investors attempt to kiss the psychological level today.
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