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Europe follows Wall Street records, now ECP Mangler in the light of the Piazza Afari

ServiceMarket Day

The eyes of the central bank meeting: The market wants to understand what it will do to counter yield increases

Presented by Andrea Fontana and Stefania Arcudi

(Reuters)

The eyes of the central bank meeting: The market wants to understand what it will do to counter yield increases

3 ‘reading

The European stock markets They follow the example of Wall Street, which is still a record in the last session (Dow + 1.45%), and is waiting for the ECP. The indices are consolidating gains, but losing momentum compared to the first part of the session, with Ftse Mib gaining more than one point above the 24,000-point threshold and returning to 21 February 2020 levels.
There will be no new monetary policy maneuvers from the European Central Bank meeting, but the focus of President Christine Lagarde’s press conference is, above all, on the response to the movements in the bond markets seen in the United States. , A race to sell government bonds. But there is also the expectation that the European OK Johnson & Johnson Vaccine.

Eyes on ECP

Christine Lagarde will be the pinnacle of the day’s balance. The market wants to understand what the central bank wants to do in the face of increasing government bond yields, starting in the United States and affecting Europe. Because this rise in government securities not only weighs on governments, but worsens the financial situation for all. Therefore, the market wants to know what the ECP will do to counter it, especially in light of the fact that it has recently reduced government bond purchases. Everyone expects Lockhart to announce that it wants to use all the assets currently available in the $ 1.850 billion and half-used Epidemic Procurement Plan (PEP). But the market wants to know if the ECB wants to use other tools to keep financial conditions in the oil. This is why the appointment is so important without waiting for immediate action.

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FTSE Mib Stock Market Trend

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In Milan, a brilliant mangler, Tim stands alone, Diazorin in line

They stand alone in the Piazza Afari Mangler e telecommunication, Which has been confirmed at the highest level in a year since Eve accelerated following Bank of America’s “buy”. At a rapid pace General It confirms the 2021 targets and proposes to distribute a maximum dividend of $ 1.47 per share to shareholders. Good ItalcasIt closed 2020 with a steady profit and proposed a $ 0.277 growth coupon per share. Rather Byrelli , Which started at 3.8%, will be slower and change, despite the 2020 accounts being in line with expectations and the outlook for progress in the current year. Under Of diazepam, Which publishes quarterly accounts and comparisons. Out FTSE MIB cue of Mayor Technimund Thanks to the trend of dividends and order backlinks laying good foundations for 2021

Spread down to 97 point area

In the meantime, it is down Spreads between BTp and Bund. The yield difference between the ten-year benchmark BTp (ICIN IT0005422891) and the same German term is marked by 97 basis points in these early stages, two points lower than it closed on Wednesday. Ten-year BTP yields are declining by 0.64% compared to the previous 0.68%.

Auction of US Government Bonds

Government bonds are heroes above all else. In fact, 120 billion euros worth of US Treasury employment is scheduled for Tuesday from 9 a.m. to 11 p.m. Thirty-year government bonds will be issued on Thursday. Auctions went smoothly on Tuesday and Wednesday. Starting with a terrible one on Wednesday, 38 billion 10-year treasuries were delivered: the market feared another demand failure, as happened in a similar seven-year bond auction a few weeks ago. But yesterday everything went exactly right: 10-year treasuries were placed at a rate of 1.523% (slightly earlier than secondary market levels), and demand was 2.38 times higher than supply (according to previous months’ auctions).

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