Italy’s 10-year BTP yield slipped toward 3.40%, reaching its lowest level since late November, as a series of economic releases pointed to a resilient domestic economy. Industrial production rose 1.4% year-on-year in November, far exceeding market expectations of a 0.6% decline. In Germany, GDP rose 0.2% in 2025, ending a two-year period of contraction. With Eurozone inflation at target, markets have reinforced bets that policy rates will remain on hold for an extended period. Meanwhile, in the US, data showed stable labor market conditions, with weekly jobless claims below forecasts, easing pressure on the Federal Reserve to cut rates aggressively. Investors now expect the Fed to keep rates unchanged this month, with two potential rate cuts likely beginning in June.