The Treasury is full with bots. Oil and bags look Opec – the voice of Italy

The Treasury is full with bots. Oil and bags look Opec – the voice of Italy

November 26, 2014 ↔ nessun comment

The Treasury is full with bots . OPEC oil and bags look

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MILAN. – L ” Draghi effect ‘on government bonds allows the Treasury to sell six billion bot semi at very affordable prices. In the auction yesterday were placed all securities for sale, with a rate fell to 0.272% from 0.379% ‘beat’ in October, and a relationship between supply and demand stable at 1.72 times. Tomorrow the Italian government will come back to sell up to 7 billion euro debt, this time in the long term (1.5 billion treasury bonds in 2020, 3.5 billion 5-year BTP and BTP 2 billion in 10 years). The spread with bunds, interrupting a long downturn, rose to 142 basis points and yields of ten-year rounded to 2.15%, falling from historic lows. The vice president of the ECB, Vitor Constancio, pointed in the first quarter of 2015 when the ECB will do the check-up of the extraordinary measures taken to stimulate inflation (purchases of abs and covered bonds, T-lter) and evaluate, in the light of macroeconomic data, whether it will be necessary to strengthen the arsenal by buying government bonds. Yesterday another member of the ECB, Benoit Coeuré, had excluded acceleration Eurotower on sovereign bonds making it less likely the possibility of a ‘gift’ of Dragons already under the Christmas tree. Madrid (-0.49%) and Milan (-0.36%) were the weakest so the bags in a lackluster

session throughout Europe. From the US came many macro data below expectations (income and personal spending, unemployment benefits), including consumer confidence as measured by the Michigan, however, climb the highest for seven years. An entirely different content data in Italy, where consumer confidence fell in November from 101.3 to 100.2 points. Stock Exchange also weighed the decline of the securities in the energy sector, weakened by an oil that remains to the lowest since 2010 due to oversupply. Seadrill has collapsed (-18%) after announcing the suspension of dividends due to the slowdown in demand for drilling platforms. In Milan, Eni (-1.62%) and Saipem (-1.92%) were among the worst. Without a production cut oil could slip “close to 60-70 dollars per barrel,” noted analysts at Natixis. Yesterday a meeting between Saudi Arabia, Venezuela and non-OPEC countries, Russia and Mexico, ended without agreement on production but only with an agreement to monitor the price of crude. According to Ali Al-Naimi, oil minister of Saudi Arabia, “the market will stabilize by itself” suggesting that the world’s leading producer does not favor a quota. “Our position is similar,” said Bijan Namdar Zanganeh Iranian colleague. The outcome of the OPEC meeting is uncertain: 58% of the experts consulted by Bloomberg expects that manufacturers will resist the temptation to reduce the amount to restore oxygen to prices, fell to $ 73.47 a barrel at the start of trading in new York. (Paul Algisi / ANSA)