MILAN, Sept. 29 (Reuters) – Secondary Market slight demotion in late morning, after the result of the last employment in the medium-long highlighting its ‘suffering’ of the ten-year stretch. The operators tend to attribute the phenomenon to coincide with the Spanish offer of Thursday, geopolitical tensions and the growing international pressure on yields in Usa reason the imminent start of a series of narrow by Federal Reserve. With the rod end of September, the Ministry of Economic Affairs has allocated 8.407 billion euro, slightly less than the maximum amount of a fork to 7000000000 to 8.5000000000, rates on new lows since the introduction of the euro in the case of five years but slight increase in the fund ten. When compared to the placement of the end of August, which is the benchmark in August 2019 and the new decade in December 2024 had marked yet another record low since the birth of the monetary union, went from 1.51 to 1.48 the coverage ratio for BTP to five years and from 1.28 to 1.36 over the ten years. As was the case at the last auction, has not been assigned to a maximum amount of 3 billion, stopping at 2,907, the new CCTeus December 2020 “The auction says that the appetite for Italian bonds is still to a number of factors, above all the prospect of launching a plan of quantitative easing by the ECB to counter deflation: the market is afraid to go short on the periphery, for fear of crashing against the wall of Frankfurt “summarizes the strategist Ing Alessandro Giansanti. By the Research Intesa San Paolo analyst Chiara Manenti instead focus on the most critical aspects of the last placement. “The auction was definitely affected by the difficult market opened this morning, with the rising spread over the entire periphery, which affected especially the part 10 years. At the base there are geopolitical tensions and also to coincide with the auctions in Spain this week, on the same curve segments, “he says. In the background, also the output of the number one Pimco, the markets have yet to digest, along with the fear referendum for Catalan autonomy from Madrid, while in the auction next Thursday, the Treasury paper provides new segments for 2020 and 2024 compared to 142 basis points on Friday night closing in, the yield premium BTP / Bund on the stretch to ten years splays on TradeWeb platform of about five tick, the equivalent variation perfectly aligned Bono / Bund which leads to 128 basis points. ============================= 13.00 ================== ========== BUND FUTURES December 149.43 (-0.01) BTP FUTURES December 129.74 (-0.43) BTP 2 YEARS (AGO 16) 106.041 (-0.031) 0.435% 10 year BTP (SET 24) 111.621 (-0.453) 2.438% BTP 30 YEARS (SET 44) 119.611 (-0.604) 3.699 % ========================= SPREAD (PB) ==================== LAST CLOSING ======= TREASURY / BUND 10 ANNI 155 156 BTP / Bund 2 YEARS 51 49 BTP / Bund 10 YEARS 148,142 level min / max from 144.5 to 149.0 from 138.7 to 142.6 BTP / BUND SPREAD BTP 30 ANNI 185 182 YEARS 200.3 10.2 197.8 126.1 127.9 SPREAD BTP 30/10 YEARS ===================== =========================================== site www.reuters.it Reuters news in Italian. The top news also on www.twitter.com/reuters_italia
© Thomson Reuters 2014 All rights assigned to Reuters.
No comments:
Post a Comment