Upward trend for the spread between BTp and Bund. The yield differential between the ten-year Italian benchmark and the same German duration moves around 106 basis points, up from the 105 points recorded at the previous close. On the other hand, the ten-year BTp yield falls. Meanwhile, on the primary, en plein of the Treasury in the short term BTp auction, with 3.75 billion worth of securities assigned at a rate that rose by 7 basis points from the June placement to -0.29%. The request was for 5.12 billion with a coverage ratio of 1.37. The securities, maturing on 30.1.24, recorded an allotment price of 100.74.
BTP / Bund spread trend
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Euro returns above 1.18 dollars, weak oil
On the currency, euro / dollar back above 1.18. The American currency is in fact in a phase of adjustment after the recent hikes and pending the Fed. The euro / dollar thus returns to 1.1829 (from 1.1809 at the close on 26 July). The single currency is also trading at 129.89 yen (130.24), while the dollar / yen trades at 110.15 (110.28).
On the markets, the rise in the oil price, with investors who initially aimed at increasing the number of vaccinated people e on falling stocks, to then fall back: towards the end of trading, in fact, Brent is down by 0.2% to 74.4 dollars while the WTI falls to 71.6 dollars (-0.4 percent).
In the US, house prices + 17% in one year is a record
In May, U.S. home prices continued to rise at a pace unheard of in more than 30 years of the Standard & Poor’s / Case-Shiller Index, given strong demand and limited supply in the market. . According to the index, the figure for the twenty largest cities rose by 17% compared to a year earlier, after + 14.6% the previous month (analysts’ expectations were + 16.4%).
The nationwide component rose 16.6% year-on-year, after + 14.6% in April, the highest ever recorded. Compared to the previous month, the figure was up by 2.1% for the twenty cities and for the whole nation and by 1.9% for the ten cities.
