Euro Rates Watch – Italian banks selling BTPs

by: Nick Kounis , Kim Liu

  • Italian bank holdings of domestic public bonds fell by EUR 21 bn in June
  • Holdings remain relatively high and there could well be more reductions
  • The ECB is an important offset for now, keeping BTPs well supported
  • However, tapering (expectations) should see Italian spreads over Germany rising
Euro-Rates-Watch-Italian-banks-selling-BTPs-finals.pdf (236 KB)
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