December 6, 2022

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Milan black shirt in Europe, the spread closes below 240 – Politics

The Milan Stock Exchange is closed. The Ftse Mib index recorded 0.52% at 20,852 points, while the European stock exchanges closed higher. Frankfurt posted +0.36% with the DAX at 12,183 points. Paris posted +0.19% with the CAC 40 at 5,765 points while London closed at +0.26% with the FTSE 100 at 7,006 points.

spread between BTP and Bund closed less than 240 pips (239.6) compared to 248.9 in the beginning And 11 pips lower at yesterday’s close. The Italian 10-year yield drops to 4.5%.

Treasure sells 5 billion bots, salt production 117 base points
The Treasury put all of its five billion six-month BOTs at auction today, maturing in March 2023. The yield, given global conditions of heavy pressure on the bond market, rose to 1.978%, up nearly 117 basis points.

LAGARDE, “Different shield that can be activated at any time”
The European Central Bank intends to activate the “anti-proliferation shield” at any time, “if we assess market dynamics that are not justified by the fundamentals and the four criteria we have set are respected, which can be summed up in the fact that the recipient country is doing well within the framework of European rules.” This was stated by the President of the European Central Bank during a discussion organized by the Atlantic Council at the Frankfurt Forum on American-European Geoeconomics. Lagarde defended the decision to task the activation of the Transition Protection Mechanism with a debt sustainability analysis conducted by the European Central Bank itself as well as assessments of other institutions such as the International Monetary Fund, asserting that “if it is a proportionate instrument, the Governing Council through its collective jurisdiction will launch the criminal court.” International”.

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