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The spread measures the yield differential between Italian government bonds (BTP) and German ones (Bund).
The spread between BTPs and Bunds ended the session growing at 115.2 basis points.
The yield on the Italian 10-year bond has started to rise again, rising by 9.7 points to 4.62%, while the German one has fallen slightly to 3.47 percent. Among European bonds, only France has fared worse due to the fear that the government will not be able to keep public debt under control: the 10-year OAT has grown by 11.9 points to 4.86% and the differential with the Bund has reached 139.3 points.

Piazza Affari recorded the worst performance in Europe with a 2.51% drop in the Ftse Mib. Heavy selling on banks and tech, while Stellantis and oil stocks closed against the trend on a day marked by the rise in government bond yields.

In Italy, the declining birth rate and increasing longevity create a 'structural fiscal shock'. Economist Massimiliano Marzo warns of the risk of running out of financial resources and calls for long-term pension planning.

Corporate welfare generates an impact on GDP four times greater than an Irpef cut, thanks to the immediate expense of fringe benefits. Cottarelli and Galli's research suggests stabilizing tax benefits to encourage structural investments.

The Milan Stock Exchange closed sharply, falling below 50,000 points with a loss of 2.52%. Heavy sales on STM, Prysmian and the banking sector, while the BTP-Bund spread rises to 117.4 basis points.

Cisco CFO, Mark Patterson, visits Italy to strengthen the group's presence. Focus on innovation, cybersecurity and the Vimercate hub. Agostino Santoni underlines the Italian competitive advantage in the integration between industry and artificial intelligence.

Yields on 10-year Treasuries reached 5.72%, reaching the highest since 2002. Weighing on the bond market are public debt, the cost of oil and geopolitical uncertainty linked to the conflict in Iran.