The yield of the ten-year BTP returns to touch the psychological threshold of 2%, and then retraces to 1.99%. It is the first time since May 2020 that this has happened. The spread with the German bund widens by two basis points, to 167 points.
The rise reflects investors’ fears for a gradual reduction in bond purchases by the ECB in the coming months. A fear fueled yesterday by the words of the Governing Council member and president of the Bank of France, Francois Villeroy de Galhau, who, in a speech at the London School of Economics, said that Frankfurt could end the asset purchases of the conventional program ‘App’ already in the third quarter of 2022.
“I still think it’s useful to have a bit of a transition between ending Pepp’s net buying in March and ending the App plan’s net buying,” Villeroy said, adding that at one point. you could start discussing ending “third quarter purchases”.
Positive opening for Piazza Affari. The Ftse Mib index started trading in progress of 0.36% at 27,065 points.
Little did the other main European stock exchanges. In Paris the Cac 40 index started trading in progress of 0.43% at 7.009 points, in Frankfurt the Dax rose by 0.12% to 15,431 points while in London the Ftse 100 fell by 0.05% to 7,605 points .
The price of oil goes up. WTI for March delivery is quoted at $ 92.37, up 0.33% while Brent is up $ 93.63, with a gain of 0.38%.
The Tokyo Stock Exchange ends trading with a sharp rise with investors returning to the market after the easing of tensions on the border with Ukraine. The benchmark Nikkei index marks an increase of 2.22%, to 27,460.40, adding almost 600 points. On the currency market, the yen changed little against the dollar, trading at 115.60, and against the euro at 131.30.
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