Italy hoping for new round of bond buying

Italy might be relying on the hope of a new round of government-bond purchases by the European Central Bank to shield its public debt from financial speculation and the threats of a rating downgrade.

Newspaper La Stampa reported that the government may reach out to the ECB about such a move. The new QE-styled program could have a different name if needed, La Stampa said, citing an unnamed official and providing no further details.

The euro weakened for the first time in four days, slipping 0.2 percent to $1.1678 as of 9:30 a.m. Rome time. Italian bonds rose, pushing 10-year yields down 3 basis points to 3.16 percent as of 10:21 a.m. Rome time.


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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam