Italy’s BTP Yields Plummet as US-Iran Ceasefire Softens ECB Rate Outlook

2026-04-08 07:30 By Joana Ferreira 1 min. read

Italy’s 10-year BTP yield plunged by 30 basis points to 3.68% after oil and European gas prices fell sharply in the wake of a US-Iran ceasefire agreement.

The deal, which suspends the US-Israel military campaign in return for Iran reopening the Strait of Hormuz, has sparked cautious optimism for a temporary easing of Middle East tensions, though underlying conflicts remain unresolved.

The reduction in geopolitical risk led investors to dial back expectations for European Central Bank (ECB) rate hikes, cutting one projected increase from their 2026 forecasts.

Markets now expect only two rate rises this year, a downward revision from earlier estimates.



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