Waiting for the minutes of the Fed, in Germany bond to 30 years with negative yield

Fabrizio Patti
August 19, 2020Pochi trade waiting for clues on the next moves of the u.s. central bank, which will arrive in the early afternoon from the “minute” of the meeting of the Fed of the end of July. Mid-session, the Ftse Mib index of the Italian Stock exchange marks +0,35%, slightly better than Frankfurt, +0,24%, while they are around par on the stock market indexes in Paris and Frankfurt.

A slight rise in futures, which anticipate the opening of Wall Street. Yesterday two indices, the S&P 500 and the Nasdaq, tap on the respective historical records. And above all, the effect of the action of the central banks and fiscal stimuli. And among the catalysts of the attention of international investors, there are talks between Democrats and Republicans on a new round of support to the u.s. economy.
Today’s oil decline: -1% for the Wti american (a share 46,46 dollars), -0,77% for the Brent in the North Sea. Today is scheduled a meeting of the Opec+, and at 16.30 will spread the data about oil stocks in the United States.
The ascent of the last two days it changes to gold, now 1990 dollars per ounce, however, to values close to historical highs touched last August 7.
Today stable, the euro/dollar, at an altitude of 1,1936, after the passing yesterday of the threshold of 1.19.
On the front of the titles of the State, down three basis points, the yields of both the Btp Italian and the German Bund. The spread is stable at 146 basis points. Today in Germany the Bundesbank has placed 1,249 billion euros of government bonds with a maturity of thirty years: the average rate has been negative: -0,05%.
Square Business today largest increases for Diasorin (+2,2%), Mediobanca (+1,6&) and Amplifon (+1,5%). Major downside for Tenaris (-1,9%), Saipem (-1,7%) and Unipol (-1%).