the Italian public debt securities, better known as Btp, has become a hotspot for savers. This is not only due to the attractive return of interest after the end of the era of zero or negative interest rates, but also thanks to the flexibility of the tools offered by the Treasury, which adapts to the different needs of savers. Let’s evaluate:
- Btp value
- Btp Italy
- PTP Futura
- Indexed BTPs
- Green BTP
- BTPs in the short term
- BTP at the age of 10 years
The Ministry of Economy announced the introduction of a new family of government bonds called Btp value, intended for the retail market, or for individual savers and the like. The first Btp Valore will be released from Monday 5th June to Friday 9th, unless the subscription closes early. This title will have a duration of four years and will be presented Loyalty bonus of 0.5% of the invested capital For those who hold it in the wallet until the maturity date. Coupons will be periodic and calculated on the basis of fixed and increasing rates as shown on the Treasury website. The minimum investment required will be one thousand euros. More details on offer terms for this new tool await.
It is currently listed on the over-the-air government stock market (MTS) of Bursa Italiana. Nine PTP Italy which offer a return linked to Italian inflation, with the voucher and principal revalued. The tenth version, which is still in circulation, will be redeemed on May 22nd. Given the double-digit increase in inflation, which reached 8.3% in April despite a slight decrease in recent months, it is not surprising that the annual coupon yield on Italian BTPs is around 8%. Btp Italia plays an important role in protecting the wallet and, according to analysts, should form 10% to 20% of the total bond portfolio.
The four issues of PTP Futura They did not achieve the success of deposits and returns that Btp Italia has seen. Currently, the net proceeds of the four Btp Futura issues range from 3.78% of the five-year bond due in November 2028 to 4.39% of the Btp Futura due in April 2037. This tool is mainly suitable for those who want to bet on growth. for the Italian economy. Btp Futuras can be useful for those who want to buy securities at a discount in anticipation of Recovery quotealthough such a scenario may not happen.
A variant of Btp Italia is BTPs are indexed to the rate of inflation in the Eurozone, calculated by Eurostat. This group of securities consists of around 12 issues with maturities ranging from September 2023 to May 2051 and has a yield of around 8%. European inflation is likely to return to the 2% annual level faster than Italian inflation. As a result, the coupon index of these bonds can fall faster than the coupon of Italian inflation indexed bonds. You benefit from BTPs categorized by the European inflation rate Same benefits as Btp ItaliaProtecting the portfolio from inflationary fluctuations.
the Green BTP It is a new class of Italian government bonds, introduced for the first time in March 2021. These bonds, the last of which has a maturity of 8 years in 2031, are designed to finance public spending aimed at protecting the environment and combating climate change. BTP Green 2031 was priced at 99.888, with a total annual return on issue of 4.056%. Green issuance returns are in line with those of traditional BTPs of the same maturity. These addresses are indicated For young savers And for those who wish to actively contribute to the protection of the environment through sustainable environmental projects.
BTPs in the short term
despite of BTPs in the short term, listed in the range of 3-5 years, do not constitute a class of premium securities, have characteristics that distinguish them from long-term securities. The yield on these securities ranges between 3% and 3.5%. These returns are less than the rate of inflation, and therefore do not guarantee the preservation of the real value of capital. the real return, net inflation, is negative around 5%, which is a remarkably high value. The advantage of these issues is the increased stability of their prices.
BTP at the age of 10 years
emissions Medium or long term BTPs They provide better protection of capital against erosion caused by inflation. There is potential for real gains if, over the next 24-36 months, the inflation rate approaches the target of 2-3% per annum. The quotes for these securities are very sensitive to changes in interest rates, both up and down. L’Share price volatility In the secondary market it becomes higher as the remaining term of the bond increases. An analysis of market prices for these securities highlights the extent of these fluctuations, which largely depend on the coupon level. These bonds are suitable for savers who are looking for a decent yield and believe that inflation will fall below 3% over the next 24 months.
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