Free Trial

Telecom Italia Long End Spreads Widen As Equity Sells Off

COMMUNICATIONS


  • TITIM’s EUR spreads are streaming mixed, with their longer-dated spreads underperforming (EUR 33s +5bps) though belly spreads are tighter (EUR 28s -4bp)
  • The clarification around their MT guidance was probably prudent given the market reaction last week though the disclosure of zero expected net cash flow in 2025 and only EUR 500mn in 2026 is clearly a concern, especially given market scepticism around the rest of the guidance.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.