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Stock impact report

Demand for Italian Retail Bonds Sags in Sign of Buyer Fatigue [BNN Bloomberg (Canada)]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: BNN Bloomberg
Households placed orders of around €6.6 billion ($7.1 billion) for so-called BTP Valore bonds in the first two days of a sale that ends Friday, and demand on the third day has so far amounted to about €600 million. That compares with an average of €10.3 billion in the first couple of days of the previous three offerings, which raised about €18 billion each. Italian citizens emerged as a major source of funding for the government since 2022 as a rapid rise in bond yields prompted a buying frenzy, with the returns outstripping the rates available on bank deposits. But Bank of Italy data through January 2024 show the pace of buying has slowed since last October. Analysts are concerned about weakening demand from households, which are seen as a stabilizing force in the nation's bond market. Hints that appetite may be waning could put yields under pressure, particularly if the Treasury has to increase its supply of bonds to professional investors. “A smaller take-up for this week's Show less Read more
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