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BTPs Incrementally Wider On Latest Source Reports Re: EU Funds

BTP

Nothing in the way of notable reaction in 10-Year BTP/Bunds as BBG sources suggest that “the government of Prime Minister Giorgia Meloni will likely have trouble accessing about half of Italy’s share of recovery funds from the European Union as bureaucracy, inflation and technical difficulties slow projects down.”

  • The 10-Year BTP/Bund spread is ~1bp wider on the news, but the spread was already off session tights. BTP futures trade a touch softer, but once again, the move there is modest, with the contract ~15 ticks back from recent session highs.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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