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by Marzio Quaglino Milano16 August 2019Milan, after the closing of yesterday for Ferragosto, has reopened with the Ftse Mib positive index (+ 0.60%), in line with other European markets. But the markets remain worried about international tensions, starting with the US-China war, and signs of a slowing global economy.Thus purchases move to government bonds, lowering yields to record levels. The ten-year US has touched all-time lows as well as the German Bund. The yield of our BTP also drops to 1.36% and the spread to 207 basis points is also shortened.
A confirmation of the climate of uncertainty also comes from the price of gold which remains close to the highs from 2013 to $ 1,514 an ounce, not far from 44 euros per gram.
On the currency market, the Euro's fall continues against the dollar with the exchange rate falling just below the 1.11 threshold.