The surge in government bond yields is being felt today on some stock market shares. The price is paid the most by Enel, the stock with the greatest weight in the entire Piazza Affari, which scores -1.25% at € 8.445. Utilities in general, a sector with a high level of indebtedness that suffers from the rise in bond yields, with Terna losing 0.62%, Italgas 0.18% and Snam 0.03%.
On the other hand, banks are benefiting from the increase in yields: + 3% Banco Bpm and + 2.4%, a pair of securities that today also rides the return of M&A items. Unicredit also did well at + 1.62%.
The yield of the 10-year BTP went to the secondary up to 0.87%, the highest level since September 2020. The yields of the ten-year German Bund also rose, at -0.23%, close to the top a over a year. The meeting of the FOMC, the monetary policy arm of the Federal Reserve, ends tonight. Most observers expect Powell to maintain a dovish stance even as the acceleration on vaccinations has raised expectations of a faster economic recovery.