Mercoledì, 26 Settembre 2018

European markets down, bond spreads edge back


(ANSA) - Milan, September 24 - The difference in interest
rates on Italian and German bonds closed at 349 basis points
after peaking at 355 during the day. The yield on Italian ten
year bonds was 5.05%.
On Friday, the BTP-Bund spread started the day in the
Morgan Stanley came out with a report Monday that called
Italian Premier Mario Monti "a good student" with an "ambitious
fiscal consolidation…and structural reform agenda".
The analysts said Italy has the choice between accepting
his agenda or taking higher interest rates and the risk of
European rescue aid, which would come with reforms imposed from
If the BTP-Bund spread were at pre-crisis levels, Italian
businesses and families would be able to pay interest rates 120
to 170 basis points less than they do now, the Bank of Italy
said in a report issued Monday.
The spread between Spanish bond rates and the German
benchmark closed at 412 basis points Monday, edging slightly
higher than last week. The yield on Spanish ten year bonds
closed at 5.68%.
European markets closed down on Monday. The Madrid Ibex 35
(-1.12%), Paris CAC 40 (-0.94%), Milan's FTSE MIB (-0.78%),
London FTSE-100 (-0.24%), Frankfurt DAX (-0.54%) all lost ground

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