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Spread del 16 ottobre in calo a 107 punti, Btp sotto il 4,50% di rendimento

By: matrun
16 October 2026 at 08:15

Torna a diminuire in apertura del 16 ottobre lo spread tra Btp italiani e Bund tedeschi. Il differenziale si è ridotto arrivando a 107 punti. Segnali positivi dai rendimenti, che sono scesi sotto la soglia del 4,50% arrivando al 4,47% e determinando l’avvicinamento dei Buoni del Tesoro ai titoli di Berlino.

Il mercato obbligazionario continua a oscillare, ma nella giornata di ieri l’ex presidente della Bce Mario Draghi sembra aver escluso un intervento di Francoforte per ridurre i tassi di interesse sul debito di diversi Paesi, in particolare della Francia, come invece era avvenuto in passato.

Lo spread torna a scendere

Continua il periodo di volatilità dello spread. Il differenziale non sembra riuscire a impostarsi su una traiettoria prevedibile, continuando ad alternare aumenti improvvisi a cali altrettanto repentini. Il ritorno sotto i 110 punti base, dopo l’apertura difficile di ieri, rimane positivo, così come il calo dei rendimenti sotto la soglia del 4,50%.

La Bce non ha intenzione di intervenire

L’apertura dello spread italiano è ancora più significativa alla luce delle parole di Mario Draghi di ieri. L’ex presidente della Bce ha infatti spiegato che la situazione dei titoli di stato europei, pur critica, non richiede un intervento dell’Eurotower.

In passato, la Bce aveva fatto infatti ampio utilizzo dello strumento del quantitative easing per ridurre l’esposizione ai mercati di alcuni titoli, tra cui quelli italiani. Il contesto economico è però cambiato e un intervento simile sarebbe molto più complesso ora.

La Bce sta infatti attuando una politica monetaria restrittiva, aumentando i tassi di interesse per contrastare l’inflazione. Acquistare titoli di Stato significherebbe immettere euro sul mercato, diluendo in parte l’effetto dell’aumento dei tassi di interesse e rischiando di far accelerare l’aumento dei prezzi.

Lo spread cala in tutta Europa

Anche i titoli di Stato degli altri Paesi europei hanno reagito bene alle parole di Draghi, che hanno ridimensionato la pressione sui debiti continentali. In Spagna i Bonos si sono mantenuti a 60 punti di distanza dai Bund, con un rendimento del 4,00%.

Spread e rendimenti dei titoli di Stato europei all’apertura del 16 ottobre 2026
Titoli di Stato Rendimenti Spread
Bund tedeschi 3,40% –
Btp italiani 4,47% 107
Oat francesi 4,78% 1138
Bonos spagnoli 4,00% 60

La Francia continua a essere il Paese in maggiore difficoltà. Lo spread degli Oat è pari a 138 punti base, anche se i rendimenti si stanno progressivamente allontanando dai picchi delle scorse settimane.

Le prossime aste dei titoli di Stato

A partire dall’ultima settimana di ottobre torneranno le aste dei titoli di Stato italiani. Le date da segnarsi sono:

  • martedì 27 ottobre l’asta dei Btp Short Term e dei Btp€i;
  • mercoledì 28 ottobre l’asta dei Bot;
  • giovedì 29 ottobre l’asta dei titoli a medio e lungo termine.

Tra il 19 e il 23 ottobre si terrà anche l’emissione dei Btp Valore e dei Btp Valore Insieme, titoli di Stato riservati agli investitori retail, cioè ai privati.

Europe’s Centre-Right Sets Its Sights on 2029 as EPP Leaders Gather in Sicily to Shape the EU’s Future

12 October 2026 at 10:32

The European People’s Party (EPP), the largest and arguably most influential political force in the European Parliament, is meeting in Taormina to chart an ambitious course towards 2029, promising greater competitiveness, less bureaucracy and stronger support for businesses, farmers and ordinary citizens.

Far from being merely another gathering of European politicians beneath the Mediterranean sunshine, the four-day meeting, beginning on Monday, October 12th, represents an opportunity for Europe’s centre-right to consolidate its achievements, confront the challenges ahead and establish a coherent political programme leading towards the 2029 European elections.

The gathering brings together senior figures including European Parliament President Roberta Metsola, European Commission President Ursula von der Leyen and Italian Deputy Prime Minister Antonio Tajani.

At its centre stands EPP Group Chairman Manfred Weber, whose ambition is to translate the group’s considerable parliamentary influence into practical policies that deliver tangible benefits to European citizens.

The EPP currently commands 184 seats in the European Parliament, giving it a formidable platform from which to influence legislation and shape the European Union’s political direction.

In announcing the meeting, Weber emphasised the importance of taking stock of the group’s legislative achievements while developing a credible programme for the years ahead.

The message is encouraging: Europe needs a political leadership prepared not simply to manage existing difficulties, but to anticipate tomorrow’s challenges.

Competitiveness must become Europe’s priority

Perhaps the most encouraging aspect of the Taormina agenda is its emphasis on economic competitiveness, regulatory reform and practical support for European enterprise.

For too long, businesses across the continent have complained about excessive bureaucracy, complicated regulatory requirements and the difficulties of competing against American and Chinese rivals.

Europe possesses extraordinary industrial expertise, technological capabilities and entrepreneurial talent. Yet these strengths are too frequently undermined by administrative obstacles and fragmented markets.

The EPP’s determination to address these weaknesses is therefore welcome.

Herbert Dorfmann MEP, who heads the Südtiroler Volkspartei delegation, has identified the priorities with admirable clarity: reducing bureaucracy, strengthening competitiveness and providing meaningful support for businesses, farmers and rural communities.

These are not abstract ideological ambitions. They concern employment, investment, productivity and the prosperity of millions of Europeans.

As previously examined by EU Today in its analysis of Europe’s competitiveness challenges, the recommendations of former Italian prime minister Mario Draghi have already established the urgent need for economic reform. The challenge now is implementation.

A stronger Europe in a dangerous world

Although the Taormina announcement places particular emphasis on economic and legislative priorities, the EPP’s broader political programme also reflects the increasingly difficult international environment.

Russia’s continuing aggression against Ukraine, strategic competition with China and uncertainties surrounding transatlantic relations have fundamentally altered Europe’s security calculations.

A prosperous Europe must also be a secure Europe.

The centre-right has an important opportunity to advance a coherent approach combining stronger defence capabilities, industrial resilience and continued cooperation with NATO.

Indeed, EU Today’s recent examination of Europe’s defence build-up highlighted the growing momentum behind missile defence, military procurement and European defence-industrial cooperation.

The EPP’s influence could prove particularly valuable in ensuring that such initiatives move beyond political declarations and become operational realities.

Europe’s security and economic strength are increasingly inseparable.

Political leadership beyond Brussels

The choice of Taormina also carries political significance.

As Fulvio Martusciello MEP, head of the Forza Italia delegation, observed, the EPP’s decision to return to southern Italy following its 2024 gathering in Naples demonstrates sustained engagement with the region.

That geographical emphasis is welcome.

European integration cannot succeed if its political priorities are perceived as belonging exclusively to Brussels, Paris or Berlin.

Southern Europe’s economic development, agricultural interests, infrastructure requirements and strategic importance deserve sustained attention.

The EPP‘s approach also builds upon discussions held during its June gathering in Galway, Ireland, previously examined by EU Today in its coverage of the EPP’s Summer University.

There, too, the emphasis was on maintaining Europe’s prosperity, strengthening international partnerships and developing the political confidence necessary to confront an uncertain future.

Turning political ambition into results

The real test of Taormina will not be the speeches delivered or the photographs taken, but the legislative priorities that emerge.

European voters increasingly demand evidence that their representatives understand the pressures facing households, employers and communities.

The EPP appears determined to respond with a programme rooted in economic opportunity, practical reform and political stability.

Its position as Parliament’s largest group provides considerable influence, although delivering legislation will still require cooperation with other political forces and EU institutions.

Nevertheless, there is reason for optimism.

At a time when European politics is frequently characterised by fragmentation and confrontation, the EPP is attempting to articulate a constructive, forward-looking vision.

If the commitments developed in Sicily translate into reduced bureaucracy, greater investment, stronger security and renewed economic confidence, Taormina may ultimately be remembered as something considerably more important than a pleasant Mediterranean political retreat.

This could mark another significant step towards a more competitive, resilient and confident Europe.

Europe does not want to depend on foreign technology in the new digital order

19 September 2026 at 05:00

For years, Europe grew used to a contradiction that it is only now beginning to see as a risk: being one of the world’s foremost regulatory powers in the digital sphere while remaining dependent on others for much of the technology those rules were designed to govern. Over the past decade, Brussels has assembled an extensive legislative arsenal aimed at curbing the power of big tech, from the General Data Protection Regulation (GDPR) to the Digital Markets Act, the Digital Services Act and the AI Act. Yet while Europe was writing rules, the United States and China were building companies, data centers, chips, cloud platforms and artificial-intelligence models on a scale that no European firm has managed to match.

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© CN-STR / AFP / Getty Images (EL PAÍS)

A technician works at a semiconductor manufacturing plant in Suqian, Jiangsu province in eastern China.
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