Above 7% Again - Any Italian Bank That Bought BTPs With LTRO Cash Is Now Underwater

Presented with little comment...10Y BTP yields just broke above 7% once again. It would appear the MtM on those LTRO-funded BTP purchases is hurting already. Cue LCH margin hikes...

Today's move above...and the week below - 60bps off the pre-LTRO (green box) low yields from Wednesday...

Chart: Bloomberg