Le resignation announced by Prime Minister Mario Monti they frighten Europe and the week of the Italian markets starts as it couldn't be worse. Opening the Btp/Bund spread once again exceeds the ceiling of 350 basis points, up to a maximum of 352, while the Stock market collapses by more than two and a half percentage points, hit by a rain of sales that weighs above all on the banks.
The worst stocks are Pop Milano (-4,85%), Mps (-4,73%), Banca Popolare Emilia Romagna (-4,61%), Intesa Sanpaolo (-4,60%), Banco Popolare (-4,55 .4,55%), Ubi (-4,55%), Mediolanum (-4%) and Unicredit (-1,7%). The Mediaset stock went in sharp contrast, with an increase of XNUMX% in the same minutes, galvanized by the return to the field of Silvio Berlusconi.
Meanwhile the yield on ten-year BTPs returns to 4.772%, having opened at 4.547. An increase that frightens especially in view of the upcoming Treasury auctions, which even seemed destined, until a few days ago, to sanction the recovery of our country's credibility.
At this point Wednesday and Thursday placements will be followed with great apprehension: on 12 December one-year bonds worth 6,5 billion will go to auction (against 7,7 billion maturing), while Thursday will be the turn of 3-year bonds (amount 3-4 billion) . Between now and February, the Treasury will have to renew 52 billion BTPs and CTZs plus 89 billion BOTs.
