Italian and Spanish note gained on Friday after PM Monti's
government won a confidence ballot and Spain managed to sell almost twice as much
debt as it planned. 2-year Spanish borrowing costs fell 52 b.p. or 0.52 p.p. Yields
for 2-year Italian notes lost 48 b.p. reaching 5.06%. Dutch and German two-year borrowing
costs hit euro-era record low as part of investors remained worried the
European crisis will deepen.