March 01, 2023 08:44 GMT
Short end Italy underperforms
- BTP futures are still lagging behind Bund, albeit off the contract low at 111.97.
- Yesterday's low at 111.78, was the lowest print since the 6th January.
- BTP/Bund spread is in turn 0.7bp wider, but well within yesterday's range.
- Looking at the short end 2yr, for Italy, BTSH3 hovers above yesterday's low at 105.03, which was also the lowest print since the 2nd of January.
- Looking at the 2yr Italian/German spread, it is sitting 2.6bps wider at 46.2bps.