BTP rising sitting agitated on debt weighs too crude – Reuters Italy

 MILAN, May 6 (Reuters) - After the collapse of yesterday, the secondary Italian appears in the upside, only a partial recovery of the losses, in a difficult environment for government bonds that concerns Europe and also the United States, with particular fury on the extra-long stretch. It amazes the difficulty of the Bund in a context that seems risk aversion also because of uncertainties related to Greece. "We see a big sell-off of fixed income, with effects that have an impact, but only in part, on the corporate. The movement starts from the government that they are giving quite worrisome signals worldwide," says Vincenzo Longo, strategist at IG. "The fact that we lost the inverse correlation between Bund and risky assets, shows that this is not a mere effect Greece" says Longo. "We believe that this blaze is driven primarily by oil, a rise that pushed markets to revise estimates of inflation. The oil has the power to affect all of the assets and also monetary policies." The  prices of petroleum products continue to ringed increases, and push themselves to the highest of the year, prompted by the decline in US stocks and armed conflict in the Middle East. BTP for the morning was extremely volatile. After starting in the red, the market has enjoyed good directions joined in the morning by SMEs European services, even if the other side continues to suffer the prolonged stalemate in negotiations between Greece and international creditors. Yesterday session saw a massive drop in the Italian bond, with Bund and bags, in a context of general 'repricing', accentuated according to the trader by the situation in Greece and the lack of liquidity in the market. Particularly affected was the extra-long stretch of the Italian curve, which, to say the trader, started the correction. Yesterday the thirty years has come to lose more than 9 figures, in a closure of those positions with mounted Qe, and today shows only a partial recovery. =============================  12.30 ================== ========== BUND FUTURES June 154.70 (-0.15) FUTURES June BTP 135.19 (+0.50) BTP 2 YEARS (17 May) 101.942 (+0.072) 0.187% BTP 10 YEARS (June 25) 97.444 (+0.441) 1.786% BTP 30 YEARS (SET 44) 139.402 (+2.116) 2.795% ======================== SPREAD (PB) =========================== ------------------- - --------------- ---------- FORMER TREASURY / BUND 10 ANNI 166 167 BTP / BUND 2 YEARS 42 43 BTP / BUND 10 YEARS 126,131 minimum 120.5 111.0 141.3 132.9 maximum BTP / BUND 30 YEARS 174,184 YEARS BTP 10.2 159.5 136.8 100.9 107.3 ======== BTP 30/10 YEARS ================================================== ===== - www.reuters.it On other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia 

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