MILAN (Reuters) – After an attempted rebound shy in the morning, the secondary Italian moved into negative storing a session marked by a significant volatility that has seen a consolidation of the strong rise yesterday to the spread Italy / Germany and the ten-year rate.
** on a day which follows that of yesterday, the bond moved in the wake of the stock Exchange, today too heavily penalized by bank sales, with the shares of several banks in the auction. The end of the session European stocks are down about 1.5% with Milan leaves on the ground for about 2.7%.
** the correction affected suburbs in general, with the taillights of the euro zone tail – Greece and Portugal – one of the hardest hit markets. The yield on ten-year Portuguese peaked from October 2014 to 3.35% and the rate of the similar Greek deadline has gone beyond 11%, the highest since August. In this context, the spread Italian / Germany on the stretch to 10 years has gone up to 157 basis points, up from last July, and the rate of 10 years has risen to 1.78%, up from September.
** “we still see the equity heaviness that he moved on BTP even if today less markedly yesterday because of volatility. There are issues that come back to re-emerge as the Portuguese deficit, the Greek review, the Italian banks …. but there is not one that attracts the attention more than the others. We remain pending Yellen testimony tomorrow, “says a trader of an Italian bank.
** In a very turbulent environment, tomorrow the auction of 12 months Bot will kick off the round of placements mid-month. In closing on the gray market of Mts, the title that will be offered tomorrow traded at -0.015%: therefore probable that yields register an increase compared to the low of mid-January to -0.074%. The good will be made available to investors for 6.5 billion euro compared with 7.7 billion coming due.
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© Thomson Reuters 2016 All prior written Reuters.
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