Markets, the pound at its lowest level in 37 years after the UK tax cut plan. Recession fears plunge stock markets and Milan at -3%

Strong rise in government bond yields in the eurozone. German 10-year bonds rose above 2% for the first time since 2013, up 6 basis points from yesterday. Italian BTPs are also laborious, with a ten-year payout 4.32%, up 17 points. The spread, that is, the spread between the securities, widens to 230 points. The French 10-year yield is 2.59% (+7 points), the Spanish 3.16% (+6), Greek stocks 4.55% (+9). The rise in yield means that Bond value It is decreasing. Basically, sales of bonds exceed purchases and the balance is rebalanced at lower price values. They are selling because the official interest rates are rising as expected For economic growth compounded. Recession fears drowning oil who loses 5.4% a 85.6 dollars per barrel.

Current yields remain negative in real terms and are well below average Eurozone inflation. The euro is still losing value, losing 0.75% against the dollar, and remaining below the level. Stock markets also fell more than 2%. in New York The S&P500 is down 2.2%. like Nasdaq. Milan is among the worst, losing 3.3%. The strongest drops are Tenaris (- 8.1%), Leonardo (- 6%) and Iveco (- 3.9%). Amplifon is the only positive stock. Frankfurt closed – 2%, Paris – 2.3%. London lost 2%. The new British government led by Les Truss Submit a tax cut plan from 45 billion poundswithout clarifying doubts about possible coverages. The pound lost 2.4% The dollar must reach its lowest level 37 years old.