Italy sells EUR 7.5bln vs exp. EUR 6.25-7.5bln 2.40% 2029, 3.30% 2033 and 2.95% 2038 BTP
Italy's recent bond auction reveals mixed demand, notably selling EUR 7.5 billion against an expectation of EUR 6.25-7.5 billion across three maturities.
Morgan Stanley raises its S&P 500 year-end target to 8,000 (prev. 7,800) and its 2027 mid-year target to 8,300
China’s State Administration for Market Regulation to strictly investigate algorithm violations and address “excessive” competition
Italy sells EUR 7.5bln vs exp. EUR 6.25-7.5bln 2.40% 2029, 3.30% 2033 and 2.95% 2038 BTP
A group of bipartisan US senators is writing to Secretary of State Rubio to pledge their support for the Taiwan Relations Act, Semafor reports; Twelve senators signed the letter
The US White House has reportedly not ruled out potential Chinese direct investment in the US, Semafor reports
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- 2.40% 2029: b/c 1.53x (prev. 1.68x), average yield 2.98% (prev. 2.91%)
- 3.30% 2033: b/c 1.54x (prev. 1.54x), average yield 3.55% (prev. 3.51%)
- 2.95% 2038: b/c 1.77x, average yield 4.04%
While the bid-to-cover ratios for the 2029 and 2033 bonds fell slightly, indicating a potential easing in investor appetite, the higher average yields suggest a growing reliance on attractive returns amid rising rates. This could signal a broader shift in market sentiment towards increased risk in the fixed income space, influencing future rate strategies and investor flows.
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