Yields on Italian government bonds are shooting through the roof today, as investors wonder how much stronger Italy’s banks are than Spain’s.  In neither case, it would appear, to they believe that the bailout has divorced financial sector stress from that on the government.

The Italian FTSE MIB is also down 1.1 percent.

Check out Italian 10-year yields, up 20 bps so far today:

And here’s a look at the FTSE MIB:

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