Spread between Btp and Bund at 216 pips, yield at 4.33% – Economy

Government bonds are still on edge after the new hike in interest rates by the European Central Bank. The spread between Btp and the Bund continues at 216 points, up from 206 points at yesterday’s close. The yield on Italian 10-year bonds also rose, at 4.33%, up 20 basis points. The ten bond prices also rose in Spain to 3.28% (+14 points) and Greece to 4.36% (+24 points).

Negative Europe awaits Wall Street, Milan -0.3% – European stock markets continue to fall, given the beginning of Wall Street where futures contracts fall. Markets fear a worse-than-expected recession after central banks raise interest rates to calm inflation. On the currency front, the euro rose to 1.0632 against the dollar. The Stoxx District 600 Index fell 1%. It decreased in London and Paris (-1.1%), Madrid (-1%), Frankfurt (-0.4%) and Milan (-0.3%). The listings were affected by the real estate sector, which lost 3.1%, information technology (-1.6%), and telecommunications (-1.4%). Utilities (-1.3%) and energy (-1.2%) sales also declined, with lower gas and oil prices. Banks rose (+0.3%), as investors see higher returns due to the increase in interest rates. Azimut travels to Piazza Affari (+6%), after agreeing with Unicredit (+0.6%) on managed savings. Also doing well was Intesa (+1.1%), on the day the new work organization was launched, and Fineco (+0.7%). Other banks fell with Mps and Banco Bpm (-0.3%) and Bper (-0.6%). In contrast to cars where Cnh loses 0.8%, Stellantis loses 0.7% and Iveco loses 0.5%. Diasuren slides to the main list (-3.8%). Saipem (-2.1%) and Recordati (-2%) also fell sharply. The spread between the Btp and the Bund remains at 214 pips with the Italian 10-year yield at 4.31%.