Spread: fears resurface, with 39 per cent of traders expecting it to rise above 100 points in the coming months (Assiom Forex)

After five months, the confidence phase comes to an end

(Il Sole 24 Ore Radiocor) - Fears regarding the spread are resurfacing amongst financial market operators. This is the finding of the September survey carried out by Assiom Forex amongst its members, in collaboration with Il Sole 24 Ore Radiocor.

After five months characterised by confidence, during which the majority of market participants predicted a spread between the BTp and the Bund of less than 100 points – peaking at 82 per cent last June – the proportion of those who now expect this threshold to be exceeded has doubled. In September, 39 per cent of respondents predicted a BTp-Bund spread of between 100 and 150 basis points, compared with 20 per cent in August, whilst the proportion expecting a spread of 50–100 basis points has fallen sharply (from 77 per cent to 57 per cent). Although this percentage remains in the majority, it must also be considered in light of the period in which the survey was conducted, as, ‘the survey, which closed last week, does not reflect the further rise in long-term yields recorded in the final days of September’, observes Massimo Mocio, president of Assiom Forex.

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