The latest auction of 15-year BTPs saw stratospheric demand. It's not just a question of yield. Italian bonds are also being bought for their debt structure: long average maturity, predominantly fixed rates, and more flexible maturity profiles.
Contrasted closures in Europe, Milan slightly up, Dow Jones and Nasdaq cautious. 15-year BTPs are selling like hot cakes, mixed signals from banks and insurance companies. Banco Bpm and Intesa did well. The Alfa Romeo regains momentum on the day of the industrial plan.…
Shortly after 11 this morning, bookings for the new 15-year BTP had already reached 18 billion, with rates on the rise - With a flash operation, the Russians of Rosneft sold the entire 12% stake they held…
