Report
Long BTP 09/25
We think that the EGB front - end is now too cheap, with the market a little too conservative in its ECB rate-cutting cycle scenario . The short end of the Italian curve offers a higher yield than Spain or Germany, as well as a more attractive carry roll down . We recommend entering in a long BTP 09/25 in outright (entry: 33 7 bp; target: 310bp: stop-loss: 355 bp; horizon: 3m ).
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Théophile LEGRAND
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