Italy's Tesoro opens book to sell new 15-year BTP bond via syndication, with guidance seen +10bps to 2040 BTP

Italy's Tesoro's move to sell a new 15-year BTP bond indicates active management of debt maturity profiles in a rising rate environment.

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European Movers: Antofagasta (ANTO LN) +4.6%, Swatch (UHR SW) +2.6%, Orsted (ORSTED DC) -1.4%, Akzo Nobel (AKZA NA) -2.5%, Publicis (PUB FP) -4.8%, BayWa (BYW6 GY) -8%

UK Grocery Inflation +4.0% Y/Y, Sales +3.8% Y/Y in the 4 weeks to January 25, via Worldpanel

Italy's Tesoro opens book to sell new 15-year BTP bond via syndication, with guidance seen +10bps to 2040 BTP

French Inflation Rate MoM Prel (Jan) M/M -0.3% vs. Exp. -0.1% (Prev. 0.1%)

French HICP Jan: 0.4% Y/Y (exp. 0.6%, prev. 0.7%); -0.4% M/M (exp. -0.2%, prev. 0.1%)

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The +10bps guidance over the 2040 BTP suggests a higher yield to attract investors, reflecting current market dynamics and potentially signaling an adjustment in risk appetites for sovereign debt.

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