Italy in the news

  • BTPs pressured after Lagarde but borrowers unconcerned

    The European Central Bank meeting on January 21 did not strike a pleasing note for investors in eurozone government bonds, and spreads are still wider. But primary market participants seem unconcerned.

    • 25 Jan 2021
  • Investors put ECB commitment to the test

    European Central Bank president Christine Lagarde refused to be drawn into naming a specific spread target that the central bank will defend in a press conference on Thursday but investors may find out for themselves in the wake of the meeting. BTPs sold off sharply after Lagarde spoke, perhaps indicating that the central bank has not done enough to convince investors of its support.

    • 21 Jan 2021
  • Italian bonds rally as government avoids snap election

    Italian prime minister Giuseppe Conte won a vote of confidence in the country's senate last night, removing the immediate threat of the government he leads collapsing. Relieved investors flocked back to Italian assets in the aftermath but Italy’s political troubles are unlikely to be over.

    • 20 Jan 2021
  • Italy's Bund spread belies political crisis

    Italia Viva has withdrawn its ministers from the support of the Italian government, sparking a political crisis in the country. However, Italy’s sovereign bonds are trading within a comfortable range versus Bunds thanks to the support of the European Central Bank.

    • 15 Jan 2021
  • Italy EUR10bn 0.95% Mar 37

    • 07 Jan 2021
  • Land NRW sells biggest century bond as euro SSA market returns with a bang

    Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.

    • 05 Jan 2021
  • Italy to enter green bond market in 2021

    Italy is at an advanced stage with its green bond framework with a highly anticipated debut deal in the format expected to arrive this year, according to the Italian Treasury.

    • 04 Jan 2021
  • ESM reform hangs in the balance ahead of Italian vote

    Italian MPs are threatening to use a vote in parliament this week to derail a recent EU agreement on planned reforms for the European Stability Mechanism (ESM).

    • 08 Dec 2020
  • Italy returns to dollars following second Futura

    Italy made a strong return to the dollar market on Tuesday with a deal over three times covered, which came following the conclusion of the sovereign’s second BTP Futura bond sale at the end of last week.

    • 19 Nov 2020
  • Italy returns to dollars as World Bank takes $8bn with dual tranche

    Dollars was the flavour of the day for public sector borrowers on Tuesday as three issuers headed to the currency, raising a combined $12bn. Two more SSAs will follow with dollar deals on Wednesday.

    • 17 Nov 2020
  • Italy goes back to the Futura with less demand than debut

    Italy received less interest for its second BTP Futura bond last week than its inaugural deal in the format earlier in the year.

    • 16 Nov 2020
  • Italy preps dollar return as SSAs hit post-US election market

    Italy held a series of investor calls on Thursday in preparation for a trip to the dollar bond market. Italy returned to the currency last year after almost a decade away, and announced that it intends to access the market every year.

    • 12 Nov 2020
  • SSA secondary pricing update: EU's SURE debut screeches tighter

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, October 26. The source for secondary trading levels is ICE Data Services.

    • 27 Oct 2020
  • Italian BTPs rally after surprise upgrade with green framework and dollar bond expected soon

    Italian government bonds rallied across the curve on Monday after S&P upgraded its outlook on the sovereign on Friday in response to the country’s extraordinary fiscal measures and support from the European Central Bank’s asset purchase programme and the European Union’s incoming recovery fund. The positive sentiment bodes well for the imminent publication of Italy’s green bond framework and plans to return to the dollar market in the coming weeks.

    • 26 Oct 2020
  • Italy takes €90bn book for 30 year

    The strong momentum in the euro public sector bond market continued on Thursday with Italy receiving a huge reception for a new 30 year line, which was sold alongside a tender of various outstanding Italian government bonds.

    • 22 Oct 2020

Dealer League Table Italy

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 UniCredit 2.44 1 20.00%
1 SG Corporate & Investment Banking 2.44 1 20.00%
1 Morgan Stanley 2.44 1 20.00%
1 HSBC 2.44 1 20.00%
1 Barclays 2.44 1 20.00%

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 4.88 3 16.63%
2 HSBC 3.99 3 13.59%
3 JPMorgan 3.00 3 10.22%
4 Citi 2.89 2 9.85%
5 Barclays 2.33 2 7.92%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 7.41 12 15.37%
2 Deutsche Bank 4.69 6 9.73%
3 JPMorgan 4.60 9 9.55%
4 BMO Capital Markets 3.83 3 7.95%
5 BofA Securities 3.72 5 7.73%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8.94 15 10.68%
2 HSBC 8.30 9 9.91%
3 SG Corporate & Investment Banking 7.46 7 8.91%
4 UniCredit 7.12 11 8.50%
5 Citi 6.84 7 8.17%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 14.79 19 9.78%
2 JPMorgan 14.45 40 9.56%
3 HSBC 12.32 18 8.15%
4 Deutsche Bank 10.51 17 6.96%
5 SG Corporate & Investment Banking 9.06 9 6.00%