The week starts downhill for the Italian spread, which is reported immediately at the opening of the session below the ceiling of 420 basis points. After closing last week at 429, the yield differential between ten-year BTPs and the equivalent German Bunds narrowed quickly this morning, reaching a minimum of 413 points. The new range corresponds to interest rates on our 5,723-year bonds of XNUMX%.
In the same minutes it has also shrunk significantly the Spanish spread which, after opening at 494, quickly reached 475 basis points. Yields on 6,486-year Bonos thus fell from 6,318% to XNUMX%.
They had an impact on the drop in spreads the rumors according to which the European Central Bank is considering the possibility of placing a ceiling on the yields of government bonds of each country beyond which to trigger the calming purchases of government bonds.
In this way, investors would know which interest rates on government bonds Eurotower considers appropriate. The news was released today by the German weekly Der Spiegel. The Governing Council of the ECB could take a decision in this sense as early as the first days of September.
Meanwhile, this morning promises to be a quiet day too on stock lists, with the main European indices all moving around parity less than an hour after the start of trading. In Asia, the Tokyo Stock Exchange closed the session slightly higher: the Nikkei index of 225 leading stocks gained 8,66 points, equal to 0,09%, rising to 9.171,16 points.
On the currency front, the euro stands slightly higher against the dollar. At the opening of the main markets, the single currency was traded at 1,2350 dollars, while on Friday the European Central Bank recorded it at 1,2337 dollars.
