For the new bond the minimum threshold is 10.000 euros. Until May 3 the bond is offered at 100 on the Mot. Tax is 26%
THE CLOCKS OF THE ECONOMY OF APRIL 2024 – Manufacturing has emerged from torpor: what are the reasons? The signs of recovery are unanimous throughout the world: should we review the forecasts upwards? Why do the markets give more confidence to Italy? What are the…
Sales on banks are pushing Piazza Affari downwards, which is currently the worst among the European stock exchanges. The spread goes back to 141
Data on US inflation yesterday worried the markets, dispelling expectations of a cut by the Fed. Today European stock markets are expected to show little movement. Bankers could benefit from the situation
European stock markets are seen moving positively today in anticipation of the ECB tomorrow. In Asia, Hong Kong shines thanks to the giant Alibaba. Fitch cuts China outlook
According to the number one of JP Morgan Chaise, the world economy is at a crucial moment and the wars in Ukraine and the Middle East increase uncertainty. On Artificial Intelligence: "It will change society like printing, electricity and the internet"
On the occasion of the celebration in Rome of the 150th anniversary of the birth of Luigi Einaudi, the Governor recalls how Einaudi managed to reduce inflation without stifling growth, but even leading to the Italian miracle. The debt issue in Italy
For now, rates remain unchanged but the reduction is approaching. Will the Fed or the ECB cut first? Let's hope that the cuts do not come too late to avoid recessionary pressures
Stock markets are cautious awaiting Powell's words on rates but the time for cuts has not yet arrived either in America or in Europe even if it is getting closer. In France, luxury stocks are suffering due to the collapse of Kering...
THE CANCELS OF THE ECONOMY OF MARCH 2024 – What are the reasons for the German economy's trouble? Italy records higher growth than the Eurozone, lower inflation, and sharply declining spreads: how can this be explained? The strong stability of the US economy will influence…
Where does the crisis in the German economy come from and how do you explain the fact that Italian GDP is growing more than the European average? Where are the USA and China going and what does the boom in the stock markets, gold and Bitcoin together mean? Tomorrow on FIRSTonline…
As expected, the ECB rate cut is not for today but it is approaching and the euro is strengthening while the spread is heading towards 130. Piazza Affari is less brilliant than Frankfurt and Paris but on the rise: the new course of…
The inflation estimate for 2024 goes from 2,7% to 2,3%. Lagarde on rate cuts: "We will know more in April and much more in June." Stock markets up, government bonds down
Powell will speak to the Senate on Wednesday and Lagarde will speak at the ECB summit on Thursday but the weakness of the markets in Europe and America reveals that no one expects surprises on the rate cut which will not happen before June
Intesa Sanpaolo is thinking of a subrogation discount. Mortgages are also arriving for the real estate Scrooges
Tomorrow on FIRSTonline the Lancette dell'economia, the historic column by Fabrizio Galimberti and Luca Paolazzi, will answer the main questions on the near future of the Italian, European, American and Chinese economy
As expected, the US central bank left interest rates unchanged for the fourth consecutive time - Fed President Jerome Powell curbs optimism on the markets: "a cut in March is not the most likely hypothesis"
Stock markets at two speeds: the American ones are still rising, driven by the GDP, the European ones are weak after Lagarde's intervention according to which the rate cut still has to wait. Hera stands out in Milan
A message that ECB President Christine Lagarde has been repeating for months now like a mantra: "Restrictive rates, as long as necessary" and relaunches a possible cut for summer 2024
After the Central Bank's decision, European stock markets remain weak. But the markets look above all to the words of Christine Lagarde
The market is buzzing with the first signs of a decline in mortgage rates. But experts are looking ahead: Italy is undervalued and must close the gap with its European colleagues. The Winter Olympic Games are approaching. It will all lead to a…
Volatility could come from geopolitical tensions. Perissinotto: "The capitalization of interests will be the driver of performance"
All the main European stock markets are on the rise. In Piazza Affari, STM, Bper and Unicredit shine above all. The banking risk reignites. Amplifon falls again
The words of the ECB president on rates, which will only fall in the summer, are liked by the banks which are going up on the stock market but they are not enough to save the stock markets, including Milan which loses almost 1% and is struggling to defend the 30 thousand mark
Markets down due to delay in rate cut. Today Lagarde speaks in Davos. Eni unties the Kashagan knot
Speaking on the sidelines of the international meeting in Davos, the number one of Intesa Sanpaolo, Carlo Messina, anticipated that 2024 will also be a very good year for his bank, that profits will remain high and that a contribution…
The recession in Germany and the absence of Wall Street for Martin Luther King Day are pushing down all European stock markets and Milan is no exception
THE CLOCKS OF THE ECONOMY OF JANUARY 2024 – What are the geopolitical risks that threaten a year of modest growth? What factors will anticipate or delay the decline in rates? Is the soft landing of the American economy confirmed? What is behind the stability of employment and…
There is also an increasing demand for houses with a higher energy class, from E upwards. For those who need to take out a mortgage, rates are already showing a decline
The new findings on higher-than-expected American inflation disturb the markets which fear the Fed's rate cut will move away and are taking a downward path - Bitcoin rises after the green light from the SEC, boom for Ether
In 2022, losses amounted to 132 billion francs. The cause lies in the weighting of positions in national currency.
Doubts about Apple's future and anxiety over the Fed's minutes on the next rate moves send the stock markets into the red while T-bond yields rise - In Milan the banks are holding up but not the securities...
Growth will remain limited in the short term, then will recover thanks to higher real incomes and improved external demand. The PEPP program will close by the end of 2024
Vivendi rushes to Paris after the announcement of the "stew" project to enhance Canal+, Havas and Lagardère. The bond race continues unabated
Today's Fed meeting is awaited but the markets' prudence indicates that no one expects any more short-term surprises on rates despite Yellen's optimism - Salvatore Rossi will not run for re-election as Tim's Presidency
At COP28, the Texan sheikhs and oilmen avoid the flop at the last minute - transition but not elimination of fossil fuels - The lack of clarity on the real trend of inflation offers the Fed a pretext not to touch rates (for now)
All the market spotlights are on the central banks' next moves - Weak stock markets today: two-speed banks on Piazza Affari
Waiting for the central banks' pronouncement on rates but in Piazza Affari the acquittal of Alessandro Profumo and Viola sends MPS into orbit while the excellent collection rewards Fineco
THE CLOCKS OF THE ECONOMY OF DECEMBER 2023 – What are the markets' reasons and the central banks' reasons for the decline in rates? Is the US economy headed for a soft landing? What weapons does China have to support the economy? Why the…
Saturday 9 December on FIRSTonline the last issue of the year of the Lancette dell'economia, the historic column by Fabrizio Galimberti and Luca Paolazzi who will explain on an economic level from the new year how 2023 went and what we can realistically expect
If even Schnabel, the priestess of German austerity, becomes a dove and says that she can rule out further rate increases, that's music for the markets. 70% of Intesa Sanpaolo employees have chosen the short week
Fed President Powell is trying to curb the euphoria of the financial markets but the general belief is that the rate cut is only a matter of months - Overnight gold surpassed the historical record of 2.211 dollars an ounce
Oil stocks lead the rises in Piazza Affari which was among the best performing in November - All stock markets on the rise
Almost all European and American indices are around parity - Piazza Affari recovers: Inwit flies, Diasorin slips again
60% of Wall Street operators are convinced that the turning point on rates is near and this belief has caused gold to jump to 2.017 dollars an ounce - Oil falling and gas plummeting
Without the American stock exchange, closed for holidays, the European stock markets were revived by the ECB minutes which suggest a drop in rates in the first part of 2024
Two-speed stock markets: sharply rising in Europe but slightly falling in America - Purchases on Saipem, Diasorin, Leonardo and Pirelli at Piazza Affari
The 40-year mortgage duration for young people reappears, banks compete by offering mortgages at lighter rates. But house prices are also recovering. Is this a good time to buy?
All stock markets are rising while bond yields are falling - Milan is among the best stock exchanges in Europe driven by STM, Iveco and Saipem
The bull runs on stock markets but also on bonds and gold. Milan still at the top thanks also to utilities. The approval in Washington of the temporary spending law that allows us to avoid the shutdown arrived overnight. The whole…
European and American stock markets all rising sharply after the falling inflation data - Piazza Affari exceeds 29 thousand: Diasorin and Erg driving
THE CANCELS OF THE ECONOMY OF NOVEMBER 2023 – What are the reasons for the discrepancy between a weak economy and strong employment? “High rates and for longer”: why was the markets' new mantra short-lived? What are the reasons…
The Fed President does not rule out new rate increases until inflation reaches 2% but the markets are confident that he will not do so - Waiting for Fitch's verdict on Italy
Powell does not shake the market by evading the future of Fed rates - Small capitalization stocks are gaining momentum - Tim's accounts in the spotlight in view of the sale of the Internet
The President of the Fed, Powell, talks about economic models but not about rates and the bullish momentum of the markets evaporates - In Piazza Affari Moncler and MPS ok, oil companies do badly
The slowdown in the US economy suggests that the turning point on interest rates is approaching. All the spotlight on Powell's speech tonight
Powell in dove version pleases the markets - The cost of money could fall in mid-2024
Already in September there was a clear recovery in mortgage requests, even before the announcement of the ECB's rate stop. It is still possible to use the Fund for the purchase of your first home by 31 December
ECB leaves rates unchanged but Lagarde makes no commitments on the future - US GDP comes close to a 5% increase - Markets skeptical but Piazza Affari rebounds
“Now is not the time for forward guidance.” ECB President Christine Lagarde said this at a press conference in Athens after the board meeting that she unanimously decided to leave rates unchanged at 4,50%: it is…
Opening in the red for the European stock markets, Saipem down in Milan after the accounts and the capital increase to service the conversion of the bonds. All eyes are on Stellantis after Ford's agreement on the contractual renewal with the unions
The conflict in MO and the risk of new rate rises agitate the markets - Waiting for S&P's rating on Italy
The Fed president made it clear on Thursday in New York that there are no immediate US rate hikes in sight but he also said that inflation is still too high. China keeps lending rates unchanged. This evening…
Piazza Affari among the worst lists of the day despite Tim's partial recovery - Spread above 200
THE CANCELS OF THE ECONOMY OF OCTOBER 2023 – What effects will the Hamas attack on Israel and the Israeli reaction have on the economy? Is this another 'black swan'? “High rates and for a longer time” is the new mantra of the markets: is it justified?…
Markets cautious but very on guard for the developments of the conflict in MO but also for the disappointing data on US inflation - IMF ready to intervene if the BTP-Bund spread widens too much. Oil and gas are rising
Price lists contrasted in Europe and the USA but Piazza Affari still on the rise thanks to the exploits of MPS but also to the greater confidence in the stop on the rise in rates due to the effect of the new war - Clouds over luxury and pharma
After the attack on the gas pipeline between Finland and Estonia, natural gas prices jumped by 13% yesterday - The Fed, however, is soft on rates - Yesterday Piazza Affari was at its highest level for 5 months but today...
Fourth session down for European stock markets: luxury and banks are the best sellers - Yields on the 4,7-year BTP are over 190% with the spread standing at around XNUMX basis points
The general director of Bankitalia, Luigi Signorini urges banks to "consider the problem of offering savers competitive products"
The President of the ECB announces that "inflation will be high for a long time" and the European stock markets immediately reverse their march, taking the downward path - Piazza Affari loses more than 4,65% but Banca BPM shines - The yield soars to XNUMX%...
Powell warns that the fight against inflation is not over and does not rule out the possibility of a Fed rate hike within the year - The dollar strengthens, the stock markets fall
Stock exchanges open higher after the Fed verdict. The Ftse Mib exceeds 29.000. Stm over 1 billion in profits but down in Milan. Well Enel after the half-yearly
The banks, through the voice of their association, summarize in a 5-point memorandum the possible strategies to get out of the grip of the floating rate
European stock markets slow down after Christine Lagarde's speech in Sintra. In Milan, a soft debut for Chinese-controlled Ferretti. Prysmian and Poste shine
Will there really be a flight from deposits around the world, paving the way for bank insolvencies and a credit crunch heralding a violent recession? Tomorrow the Lancette dell'Economia by Fabrizio Galimberti and Luca Paolazzi will answer
The Fed discounts a new 0,25% rate hike but could announce that the game is changing and the stock exchanges are hoping for it - Two-sided inflation - Unicredit, Stellantis, Enel and Mediobanca in the spotlight on Piazza Affari
Positive European stock exchanges at the opening. Singapore leaves the cost of money unchanged, US inflation falls: pressure on interest rates decreases. The quarterly season of the big American banks opens
Why is the economic recovery taking off despite the rate hike? Is it conjunctural or structural? And is inflation coming down or not? All the answers on Saturday 15th on FIRSTonline in the column of Fabrizio Galimberti and Luca Paolazzi
Markets are preparing to take advantage of the likely Fed rate cut from July and European stock markets are on the rise. The utilities and Leonardo are doing well, Mfe volatile on Berlusconi hospitalization
What are interest rates for? and what are they? Some information on the main types of interest rates and their use
February inflation falls but not enough. Stock exchanges flat, pressure on interest rates is growing and hawks are pushing for new increases by the ECB. Musk asphalts Stm, record balance sheet for Salesforce
In the upcoming choices of the ECB on rates, it will be essential to balance the risks between doing too little and doing too much. This is the appeal launched by the governor of the Bank of Italy, Ignazio Visco
The markets bet on Asia - The rise in interest rates favors the banks - Piazza Affari turns the spotlight on the Brembo-Camfin pact for Pirelli
The ECB confirms the 50bp rate hike in March and Fabio Panetta calls for caution and warns of the risks of excessive tightening
ECB Supervision, after years of hymns to prudence, has proved to be softer with respect to the distribution of dividends, estimated at 51% of gross profits. Criticisms of some management bodies
The Economist dedicated the cover to Washington's New Deal launched by President Biden not for future centuries but for the next ten years: a challenge that puts Europe in crisis to which Macron and Scholz are trying to react…
The rate on main refinancing rises to 3%. Lagarde: "We will stay on course, significant increases at a constant pace, decisions will depend on the data". The BoE also raises rates by 0,5%
In his podcast "Al 4° piano" the Kairos strategist, Alessandro Fugnoli, recommends distributing purchases and financial investments throughout 2023 "avoiding necessarily chasing the rise this January"
The European stock exchanges open up then slow down pending the ECB's statements. eToro survey: retail is buying again. Here's how to copy the great finance gurus
The Fed slowdown in rate hikes gives oxygen to the Stock Exchanges - Tim shines in Piazza Affari and Avio goes into orbit
Rates rise by another 75 basis points but the words of Fed Chairman Powell do not reassure the markets at all: "Rates higher than expected because inflation is still high: I see the light at the end of the tunnel but it is…
Cautious stock exchanges and super dollar waiting for the Fed on rates - Italian elections could affect the spread - Eni and Stm distribute dividends - Porsche IPO kicks off
The Bank of Japan's confirmation of sub-zero rates gives a boost to the Nikkei and Asian stock markets, with possible repercussions on European stock exchanges - Half-yearly reports from Piazza Affari
THE HANDS OF THE ECONOMY OF SEPTEMBER 2022 - Are the difficulties of reading the economy dissipating? Yes, in the sense that the recession really comes. Can it be mitigated? With what policies? How serious is the gas problem? The (relative) weakness of…
Yields are growing, but the spread is stable – Gas: there is no agreement on the price cap and prices are rising – Inflation under control in China, Tokyo positive
Europe will deploy 375 billion euros to deal with the impact of high energy prices on households and businesses, while the Russian economy will only recover at the end of the decade
Gas, inflation, rates and recession risks continue to agitate the financial markets - Sparks on Btp rates
In August, the stock exchanges lost about 4%: inflation and interest rates scare them - The balance of bonds is also bad: the German Bunds lost 6%
Alessandro Fugnoli, Kairos Strategist, explains why the market will no longer touch the highs of August but not even the lows of June after the declarations of the Central Banks