BTPs pressured after Lagarde but borrowers unconcerned

By Lewis McLellan
25 Jan 2021

The European Central Bank meeting on January 21 did not strike a pleasing note for investors in eurozone government bonds, and spreads are still wider. But primary market participants seem unconcerned.

Italy’s 10 year yield is around 0.64% — down from Friday’s peak of 0.7%, but up from the 0.57% level it occupied before the ECB meeting. President Christine Lagarde's decision to highlight the fact that the ECB may not use the full Pandemic Emergency Purchase Programme envelope struck ...

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