Italy

Banks keen to use 'positive momentum' while the issuance window is still open

Glocos relieved by 'better than anticipated' result

Bankers on the deal are confident about auctioning the remaining rights

Italy surprised with economic expansion last quarter but the spread between BTPs and Bunds widened after it was said that the government will take on additional borrowing in 2023 to fight the energy crisis

New funding entities could help Italy but benefit will be magnified with tighter spreads

Italian sport and culture funder occupies grey area between SSA and FIG

Italian holding company manages to get some spread movement after Monday’s deals stalled

The €2.5bn dilutive rights issue accompanies a four year strategic plan

But analysts suggest latest Pepp holidngs may not reflect up to the minute ECB buying

Investment grade market keeps churning out deals

• The way out of UK market disarray • Italian banks in a better state • Bring back the bonus cap, say bankers

Banks are well prepared to face increased funding costs from negative macro outlook