www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
World / Europe

Italy expected to clear 10-year bond sale hurdle

(Agencies) Updated: 2012-08-30 08:55

MILAN - Italy is expected to sell all it wants of a new 10-year bond at auction on Thursday, clearing the last hurdle of a busy refinancing week, as investors bet that a European Central Bank bond-buying plan will stabilise weaker euro zone members.

The bond sale will be the first for Italian longer-term bonds after the ECB's pledge to take steps to ease borrowing costs in the euro zone. The central bank is due to unveil details of its mechanism at a key September 6 meeting.

In the meantime, Rome may have to accept that yields for the 10-year bond will break above 6 percent again to attract investors, and the secondary market could be volatile.

An effective system of bond-buying by the ECB could give Italy longer-term relief as it struggles to reduce its mammoth 2 trillion euros ($2.5 trillion) of debt while its economy shrinks.

"Investors give credit to the European Central Bank, and this is supporting bond markets even for vulnerable euro zone countries like Spain and Italy," said Alessandro Giansanti, strategist at ING in Amsterdam.

On Thursday Rome will seek to sell up to 6.5 billion euros in five and 10-year bonds, together with up to 1 billion euros of floating rate CCTeu notes.

"The Treasury will target the maximum amount of 4 billion euros on the new 10-year maturity, without getting too annoyed with a possible rise of the yield over 6 percent," he added.

The Treasury placed without difficulty 12.75 billion euros in shorter-term debt on Tuesday and Wednesday, with yields falling sharply at both auctions.

Italy faces redemptions of 29 billion euros in September, so is under more refinancing heat than Spain.

The new 10-year bond, maturing on November 20-22, is set to become the next benchmark for Italy.

The current 10-year benchmark was yielding just below 5.8 percent late on Wednesday, flat on the day, at a stable 440 basis-point premium to the equivalent German Bund.

"The Treasury can count on a solid base of specialist banks at auctions," said Chiara Manenti, fixed income strategist at Intesa Sanpaolo in Milan. "But market adjustments after the sale could not be ruled out."

The real challenge for Italy is to regain broader market confidence while its government carries out much-needed structural reforms.

On Wednesday, Prime Minister Mario Monti received German Chancellor Angela Merkel's backing for his reforms, which she said would ultimately help reduce Rome's borrowing costs.

Trudeau visits Sina Weibo
May gets little gasp as EU extends deadline for sufficient progress in Brexit talks
Ethiopian FM urges strengthened Ethiopia-China ties
Yemen's ex-president Saleh, relatives killed by Houthis
Most Popular
Hot Topics

...
主站蜘蛛池模板: 亚欧成人毛片一区二区三区四区 | 亚洲成人三级 | 美国毛片毛片全部免费 | 亚洲男人在线天堂 | 国产精品一级视频 | 国产又色又爽黄的网站免费 | 国产三级在线观看a | 波多野结衣中文在线 | 欧美性高清视频免费看www | 成人深夜福利在线播放不卡 | 美女一级毛片免费不卡视频 | 国产成人精品男人的天堂网站 | 中文字幕亚洲一区二区三区 | 亚洲精品国产专区91在线 | aaa大片 | 久久视屏这里只有精品6国产 | 婷婷亚洲久悠悠色在线播放 | 欧美黄色xxx| 成年人视频免费网站 | 一本久久道久久爱 | 免费亚洲网站 | 伊人不卡 | 久久精品99视频 | 亚洲第一网站 | 99视频免费在线 | www.日本高清视频.com | 99热久久国产综合精品久久国产 | 亚洲国产精久久久久久久 | 国产成人一区二区三区精品久久 | 日韩三级免费看 | 欧美日韩一区二区三区视频在线观看 | 日本一级在线观看 | 成人毛片免费免费 | 成人午夜久久精品 | 三级黄毛片 | 免费老外的毛片清高 | 国产精品久久久久久搜索 | 九九久久精品 | 欧美亚洲不卡 | 国产亚洲欧美一区二区 | 最新欧美精品一区二区三区不卡 |