Italy BTP Yield Surges on ECB Rate Hike Bets
Italy’s 10-year BTP yield surged past 4.70%, reaching fresh three-year highs, as a deepening energy shock strengthened expectations of further ECB rate hikes. Following higher-than-expected inflation across major euro-area economies, markets are pricing in a third ECB rate hike by year-end and at least three hikes in 2