(ANSA) – MILAN, JUN 10 – The Milan Stock Exchange (Ftse Mib -4.5%) is confirmed as the worst among the European lists after the launch of Wall Street which, in the face of US inflation shot to a maximum of 40 years, it loses ground as two-year treasury yields soar. This is a sign that the market is now pricing in a series of tight Fed rate interventions to bring consumer prices back under control.
The situation in the Old Continent is no different in the aftermath of the ‘hawkish’ words of the ECB president Christine Lagarde, who disappointed the expectations of an anti-spread shield, i.e. of support for the government bonds of peripheral countries such as Italy. . It is no coincidence that the BTP-Bund spread remains in tension at 221.5 points with an Italian ten-year yield at 3.65% on the levels of October 2008.
The decline in the value of state bonds weighs on the banks that have them in their portfolios and the biggest drops, behind Bper (-13.3%), penalized also by the new plan, are recorded by the securities of the finished credits also in the volatility auction: Banco Bpm (-10.7%), Fineco (-8.1%), Unicredit (-7.9%), Unipol (-7.2%), Intesa (-7.1%).
Meanwhile, Paris loses 2.4%, Frankfurt 2.3% and London 2% outside the euro zone. (HANDLE).
Source: Ansa
I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.
