In the aftermath of Black Monday – with the SVB effect which burned 291 billion in Europe with the flight from the banks despite the Fed – the markets are trying to raise their heads and are recovering while awaiting US inflation, even if the trend remains nervous, and on price list remains the unknown factor of the bankers. The lens is on the next moves of the central banks, which in some way will have to take into account the tensions on the system
banking. First the ECB which on Thursday will have to take account of the tensions on the banking system, then the Fed. But the concern remains. Moody’s puts it under observation First Republic Bank and five other US lenders.
Wall Street futures confirm and add to rally as First Republic and other US regional banks rebound in pre-trade. Yields also recovered on Treasuries with a two-year maturity at +24 basis points. Boost on bonds also in the Eurozone with the two-year bund at +11, the French Oat at +10. Further back the BTP (+4 points). In this context, the spread between the BTP and the Bund fell to 186 points with the yield on the Italian 10-year bond at 4.20%. Among the individual squares, Milan scores a +0.48% to 26,292 points. Generali stands out (+3.2%) with record operating profit and dividend above expectations. The banks are still under pressure (Banco Bpm -2.3%, Mps -2.6%, Fineco -2%). The best is Frankfurt (+0.87%) followed by Paris (+0.67%). On parity London (+0.01%).
INFLATION
The international scenario remains characterized by a high degree of uncertainty and downside risks. He claims it Istat in the Note on the trend of the Italian economy of February underlining that “a path of inflation recovery is beginning to take longer than initially expected”. In the fourth quarter of 2022, Italian GDP recorded a slight negative economic change as a synthesis of the positive contribution of net foreign demand and the negative one of domestic demand net of inventories.
Source: Ansa
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
