The story of the BTP continues of late.........>

BTPS: The story of the BTP continues of late. Whatever direction it

underperforms or outperforms its peers.

IKZ9 lifted in decent size in the past few minutes. Could be some desk locking

in profits, but UNCONFIRMED.

The sell off of late, had plenty of investors scratching their heads, with the

most likely explanation put down to 

-Less dovish ECB, 

-Italian banks to inject fresh money into deposit guarantee 

-Issuance 

-Worries on less QE 

-Japanese Investors Sell Most Italian Bonds in Over Two Years .. Uncertainty

over Italy's fiscal position and caution about change in leadership at the ECB,

noted as possible reasons for Japanese investors.

-And less domestic interest