Italian and Spanish bond yields edge lower ahead of supply from the two countries, as investors look to take advantage of the recent re-widening pressure. Italy will auction up to EUR3.5 billion of a new 3-year BTP, which falls within the OMT remit, and a small tap of the current 15-year. Spain is scheduled to sell small tranches of 3-, 5- and 28-year paper. "While the overall relatively small volumes should support today's activities, spreads are likely to remain somewhat more volatile, with year-end nearing and the periphery featuring in headlines more frequently again," notes Commezbank. Spanish and Italian 10-year bond yields are 5bps lower at 5.31% and 4.60%, respectively. In the short end, Spain's 2-year bond yields 2.82%, down 4bps, and Italy's 2-year bond yields 2.06%, down 3bps from Wednesday's close.
Find us on Google+
No comments:
Post a Comment