European stock exchanges start strong, with Piazza Affari in the lead, while on the market there is a return to betting that the current monetary squeeze could soon reach its peak and begin to slow down.
Clues to this come from the Australian central bank, which raised rates by only 0.25%, below market expectations.
To push investors to a risky bet, which has already caused sunburn after the nuanced rally in August, was the US manufacturing ISM index, which fell yesterday to a two-year low.
A signal of a cooling of the stars and stripes economy that could lead the Fed - despite the bullish rhetoric that its components continue to propagate - to slow down the rise in the cost of money.
Paris thus advances by 1.9%, Frankfurt by 1.8% and London by 1.2% while Milan leads the dance (+ 2.1%).
Government bonds are also running, with the yields of Eurozone bonds almost all falling by double digits: that of the BTP is reduced by 13 basis points, to 4.09%, while the spread with the Bund falls to 288 points.
The drop in the price of gas, which updates the lows since July (-3.4% to 164 euros per megawatt hour), thanks to the mild temperatures on the Continent, helps to restore some confidence to the stock exchanges.
Oil, on the other hand, rises (+ 0.4% to 83.9 dollars a barrel for the wti), which consolidates yesterday's rally,
in view of the production cut that Opec + could launch tomorrow.
The euro is also recovering, rising by 0.5% to 0.988 against the dollar.
In Piazza Affari, Stm (+ 4.5%), Moncler (+ 3.8%), Fineco (+ 3.7%) and Mps (+ 3.5%) stand out.
BTP yield still down, down by 15 points to 4.07%
- The decline in yields on Eurozone government bonds continues today, with the Italian BTP in the pink jersey among the bonds of the Old Continent.
Our ten-year yield falls by 15 basis points to 4.07%, the lowest since last September 22nd, consolidating the sharp decline recorded yesterday, when it had lost 27 basis points.
The spread with the German Bund also fell by 5 basis points, falling to 226 basis points.