Italian head of treasury via MNI and Reuters

  • we have an abundance of liquidity
  • better funding conditions are a result of economic improvements

And cheap money perhaps ?

  • liquidity is not seen as a major concern for the markets
  • we could see a reduction of Chinese buying of Italian debt
  • doesn't yet see any big changes in presence of Asian investors on Italian debt after yuan devaluation
  • Japanese interest shows recognition of better conditions
  • monitoring carefully for potential issue of 15yr inflation linked bond, has to select right moment
  • will not sell another BTP Italia bond this year
  • average maturity of debt could be extended to exploit low rates

Meanwhile the euro is still treading water with EURUSD 1.1313, EURGBP 0.7335 and EURJPY 135.22