China is giving Italy an unexpected breath of fresh air. In fact, it seems that in recent days Beijing's investors have entered the market for our government bonds, buying BTPs with both hands. To reveal the indiscretion is the Corriere della Sera.
“When fears of an imminent Greek default sent the Italy spread over 400 on the German Bund - explains the newspaper - and the ten-year BTPs were placed on Thursday 29 September at rates of 5,86%", the Chinese "bought for several hundred million euros, although not at auction but on the secondary market . And not ten-year BTPs, which everyone looks to as a thermometer of Italian credibility, but short-term bonds, between 1 and 5 years", giving a "sign of confidence in Italy" and making a good deal given that, since then, the spreads they shrunk.
