Generali’s retreat from BTPs fails to sour mood in periphery sov market
With Italy’s yields falling fast and its political outlook much enhanced, bankers are urging the republic and other peripheral eurozone sovereigns to harness investors’ move down the maturity spectrum. As spreads to Germany narrow further buyers are likely to welcome long dated bonds from them — despite the decision by one of the largest holders of Italian debt to shed another €500m. Craig McGlashan reports.
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