LONDON, Sept. 29 (Reuters) – Bund futures moved little in the opening session while sales weigh down the contract on the BTP, in view of the medium-long term Italian auction this morning, last appointment with the session placements end of the month. On offer there are up to a total of EUR 8.5 billion reopening of BTP at 5 and 10 years and the new CCTeus December 2020 and early in the session last Friday, the Italian market had moved into negative territory, with pre auction sales accentuated also by the news output from Pimco’s Bill Gross, which sparked some speculation about a possible change of strategy on the peripheral part of the great American fund. Friday in the closing decade of December 2024 stood at auction today at a yield of 2.41%, while the five-year 1.050% area in August 2019, roughly about the levels at which the two titles were placed a month ago, respectively 2.39% and 1.10%. The spread Italy-Germany (on Tradeweb platform, the benchmark Italian is still the ‘old’ tenth anniversary in September 2024) again this morning from an altitude of 142 basis points. At European level, the beginning of the week will be largely focused on inflation data (those Germans today, tomorrow those of the euro area and Italy), against the backdrop of a market that continues to have deflationary fears; Thursday is scheduled ECB meeting (in Naples), which should, however, provide the details of the programs covered bond purchase Abs and announced by the central bank. The operators also warn that in these sessions, as we approach the end of the quarter-end, the market may record an additional dose of volatility. ========================= HOURS 8.35 ===================== ====== FUTURES EURIBOR December 99.920 (inv.) BUND FUTURES December 149.46 (+0.02) FUTURES December BTP 129.93 (-0.24) 2-YEAR BUND 100.132 (+0.003) -0.067% BUND 10 YEARS 100.306 (+0.022) 0.967% BUND 30 YEARS 114.772 (+0.292) 1.850% ======================================== ====================== www.reuters.it On other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia
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