Italy, public debt and spreads fall

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In May, Italian public debt fell by 8.7 billion compared to April. The BTP-Bund spread touches 190 basis points, never so low for more than 13 months
In May, Italy's public debt fell.
The Banca d'Italia decides in the monthly statistical bulletin for the fifth month of the year, "Public finance, borrowing and debt", where it is certified that in May Italian public debt stood at 2,364.7 billion euros.
Therefore the positive moment of Italy continues, which after having been pardoned by the EU Commission on the infringement procedure on Friday has received the trust from the Canadian Dbrs.
The rating agency after the closure of Wall Street announced that it had maintained its sovereign rating on Italy unchanged at 'BBB (high)' with a stable trend, citing the progress made by banks in improving credit quality and commitment government for a stricter budget strategy

Read also With the 200 bp spread you can save up to 1.6 billion for the State.
Bank of Italy: in May public debt drops to 2,364.7 billion
Going into the details of the Bankitalia report, general government debt amounted to € 2,364.7 billion, down by € 8.7 billion compared to April 2019.
"Public finance, borrowing requirements and debt" of May 2019 showed that "the trend of public debt reflects the reduction in liquidity of the Treasury (11.3 billion, to 47.2, amounting to 57.6 billion to May 2018), only partially offset by government borrowing requirements (1.1 billion) and by the overall effect of issue and redemption premiums and premiums, the revaluation of inflation-linked securities and the change in exchange rates (1.6 billion) ".

Via Nazionale sottolinea che con riferimento ai sottosettori il debito delle amministrazioni centrali è diminuito di 8,7 miliardi; il debito delle amministrazioni locali e quello degli Enti di previdenza sono rimasti pressoché invariati.
Spread sui minimi da oltre 13 mesi
L’accavallarsi di queste notizie positive per l’Italia (no a procedura d’infrazione, outlook stabile dell’agenzia di rating Dbrs e calo debito pubblico a maggio) fa si che lo spread Btp-Bund questa mattina si sia adagiato sui minimi dal 24 maggio 2018 a 190 punti base. Erano più di tredici mesi che non veniva sondato questo livello per il differenziale di rendimento fra i titoli italiani e tedeschi a dieci anni.
In questo quadro il BTP decennale continua la cavalcata avviata sei settimane fa con un rendimento all’1,68.

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