March 21, 2023

Hardwood Paroxysm

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BTP Yield Drops to 1.7%, ECB Bets – Last Hour

(ANSA) – MILAN, Feb 28 – The spread between BTP and German bonds closed at 157 basis points, down 3 points compared to last Friday, in a positive session for all government bonds, which are seen as safe haven assets in the current climate uncertainty. Fear in the markets. The Italian 10-year BTP shines in Europe by cutting its yield by 12.8 basis points, which fell to 1.70%: the market is witnessing the timing of monetary policy tightening by the European Central Bank (ECB) expanding (prices the interest rate increase by 19 basis points in October vs. 25 on Friday) in light of the cautious words of some Eurotower members such as Fabio Panetta and Mario Centeno.

Panetta said after the outbreak of the conflict in Ukraine, the European Central Bank should make “cautious decisions” because “the world is getting darker, and our steps must be smaller.”

While Centeno hoped to “normalize” monetary policy, he admitted that conflict could affect when it occurs. “A scenario close to stagflation is not off limits,” so “we must calibrate our policies on this.” (handle).

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