Morning with a slight ascent for the Italian spree. After closing yesterday at 428 basis points, the yield differential between the XNUMX-year BTPs and the corresponding German Bunds remained relatively stable in the first trading days of the day, to then reach daily peak, 437 points, around 13pm.
All this in a context of generally calmer exchanges compared to recent days on both the bond and equity markets. At the end of the morning, Piazza Affari left about half a point on the ground, after fluctuating around parity for several hours.
In short, today's session has all the air of being a consolidation session, after the heavy changes that occurred in the last few sessions. According to various operators, the surprise effect of interest rate cuts decided yesterday by the ECB led by Mario Draghi was once again reassuring.
