Coronavirus, the Btp-Bund extension extends beyond 240 points. All EU stock exchanges in red, oil prices at their lowest level in 18 years

The yield differential between increases again Italian Btp and German Bund, which goes beyond 240 basis points with the yield of the 10-year Treasury annex‘1.93%. the propagation then it returns to levels it has not seen since March 18, when the ECB has launched its new maxi purchase plan for government bonds to calm markets and support countries that ended up being targeted by investors because they are weaker in an emergency coronavirus. Piazza Affari is in red, like all the other lists on the old continent. The Milan stock exchange loses almost 3%. Banks collapse, Atlantia and Saipem penalized by the price of the oil which continues to decline despite the agreement between Opec and Opec +. WTI crude fell below $ 20 a barrel, to its lowest level since 2002.

The tension is linked, on the one hand, to very heavy forecasts about the economic impact of the coronavirus: yesterday in International Monetary Fund estimates a drop of 7.5% in the GDP of the eurozone and even by 9.1% than the Italian: this is the worst collapse after expected for Greece.

Furthermore, it weighs on the fact that Eurogroup last Thursday he hasn’t decided anything about eurobonds or coronabond, an issue that considers that the Eurozone is still divided between North and South, postponing everything to the Council of the EU on April 23. And in Italy, the political confrontation has been reinitiated by the opportunity to use the loans from the State savings fund Month, also considering that the government is expected to issue a decree soon 60 billion with new support measures for citizens and companies.

The Chamber of the Chamber will vote on the authorization to deviation budget April 24, the day after the leaders summit. To mobilize private savings to finance the necessary additional debt, the Treasury has decided issue new government bonds “for families”But details on the new instrument’s features and how it is intended to be attractive to savers are still missing. “The smartest operation we can do is incentivize Italian savers to bet on the country’s recoveryTherefore, the instruments can be various, from an issue of government securities directed more directly to the retail segment and, therefore, to more direct involvement from Italian savings families, to an improvement of existing instruments or innovative financial instruments to channel citizens’ savings towards the real economy and the business system, “Deputy Minister of Economy told Sky Tg24 Antonio Misiani.