Reuters scoop causes bond market stir

Reuters broke news on April 21 that the derivatives exchange Eurex planned to launch an Italian government BTP bond futures contract — a move that could have a seismic impact on the bond market, affecting liquidity in peripheral euro zone debt markets as well as yield curves in Germany, Italy and other countries. The news caused a stir in the bond market and prompted Calyon analysts to produce a special report looking at the possible fallout. Competitors scrambled to match the story later in the day.