Boom of corporate bonds in Piazza Affari. After Fca, Telecom and Ferrari, new bond issues by large companies are arriving: this also in view of the next Qe wanted by Mario Draghi and scheduled for June, when the ECB will also start buying loans from non-financial companies. In Italy the most awaited names are now those of Pirelli and Anas.
Since the ECB announced the new quantitative easing program, liquidity has started to flow in conspicuous again: already in mid-March new issues were announced for 20,5 billion euros, which added to the 7,5 billion of the first two days of the week. It had been to open the dances Deutsche Telekom, the first to take the field after the announcement in Frankfurt a few days earlier: for its 4 billion bond it has collected orders for 20 billion euros.
QE estimates on potential purchases by the ECB of corporate bonds starting in June are around 5-6 billion a month. In Italy, experts recommend investing in investment grade names belonging to telecommunications, utilities and energy sectors, with a maturity between 1 and 5 years, even if for small investors there is the obstacle of the minimum entry fee, which for this type of instrument is often set at 100 thousand euros. For small savers, not being able to exclude major risks as in the recent case of Volkswagen, the advice is always to diversify.
