UPDATE 2-Italy sells $3.5 billion of U.S. dollar bonds reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Italy’s new prime minister Mario Draghi got an early endorsement from investors who flooded a government debt sale with orders, allowing the country to secure a better price than it initially targeted.
(Bloomberg) Italy’s new prime minister Mario Draghi got an early endorsement from investors who flooded a government debt sale with orders, allowing the country to secure a better price than it initially targeted.After the bond sale went live on Tuesday morning, it was soon on course to rack up record orders of over 110 billion euros ($134 billion) for the 10-year portion, more than 10 times the amount on sale.Italy’s Treasury then cut the yield it was offering on both maturities to 4 basis points above existing debt on the 10-year bond from initial guidance of 8 while the price on a 30-year inflation-linked maturity went to 22bps over the benchmark from 27. The combined transaction amounted to 14 billion euros.The tightened pricing prompted many investors to walk away and the orderbook stood at around 65 billion euros on the 10-year bond by the time arrangers set final terms. That leaves the deal well short of the record 108 billion euros of demand set in June last y
(Bloomberg) Italy racked up 85 billion euros ($103 billion) of demand for its first bond sale since Mario Draghi took the reins as premier, which has been seen as the most market-friendly outcome for the nation.
Italy s latest political crisis may spark more economic upheaval
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Cancelling on the global elite last-minute is becoming something of an annual tradition for Giuseppe Conte.
A year ago the Italian prime minister pulled out of his trip to the Davos summit as his fragile coalition government began to crumble.
A new year and a new crisis has hit Rome. Conte’s speech was quietly dropped from Wednesday s schedule of the virtual World Economic Forum after Italy descended into political turmoil once more.