January 28, 2022

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Deployment review more than a year later, 140. Draghi’s theory falters: ‘I’m not a country shield’

The spread, or the difference in yield between a German ten-year government bond and its Italian equivalent, touched 140 basis points this morning, The highest level From November 2020. Movement due to increase in return Btp jumped to 1.117% (The German Bund has remained essentially flat.) The approach of the holidays reduces trading volumes in the markets, which is a circumstance Facilitates the most decisive price movementsthe. However, it is possible that investors will begin to smell the atmosphere of political turmoil, no matter how the race for the presidency of the republic ends, the increase in tensions in the majority should indeed be taken into account. Today’s signal contradicts the theory expressed yesterday Mario Draghi To trace his way towards the Quirinale.

“If it is true that the spread is higher now than it was when I arrived That means I’m not a shield So the problem is not there.” And so, yesterday at his year-end press conference, Prime Minister Mario Draghi responded to a question that highlighted how the spread had grown in the past year, and if elected to the Quirinale, the shield could fail for Italy represented by power From the former president of the European Central Bank. Then Draghi added, “I repeat: it is not the individuals who are the strength of Italy but what the country has done and how it has also reacted on a psychological level. If it continues to grow, the concern about the spread is lessMarkets are looking to grow first and foremost, and that is the measure of the credibility of countries and in our countries in particular.”

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