Skyrocketing yields for new five-year BTPs. This morning, the Treasury placed bonds worth 3,865 billion euro against a more than satisfactory request (4,945 billion). The bad news, however, comes on the interest front, which jumped to 5,6%, for an increase of 0,67% compared to the last placement.
This is the highest peak ever reached since the introduction of the euro. In response, Piazza Affari accelerated downwards, losing more than 1%. In the hours immediately preceding the auction the spread between the five-year BTPs and the equivalent German Bunds it had widened up to 461 basis points, also a record in the last 12 years. The differential on 400-year bonds fared no better, breaking through the 406-point wall to reach a maximum of XNUMX.
From this morning the Italian bonds are under the magnifying glass of the market. Our government bonds could soon be subject to "significant" purchases from China. This was revealed by the Financial Times, which spoke of a meeting on 6 September in Rome between Lou Jiwei, president of the sovereign wealth fund China Investment Corp (Cic), the Minister of Economy Giulio Tremonti and the heads of Cassa Depositi e Prestiti. The episode was confirmed by the Treasury.
