Italian debt weathers the storm – The “Spanish storm” did not blow over to the Italian treasury. Despite the uncertainty reappearing in the markets, the foreign press explained that Italy, on September 27, managed to sell treasury bills and long-term treasury bill with a lower yield (Valor Economico – Custo da dívida da Itália recua em leilão de títulos de até dez anos*; El Pais – Italia capta 6.690 millones de euros en bonos a 5 y 10 años a menor interés). The Wall Street Journal reported that the latest debt auctions have dispelled fears (September 27 – Italy Auction Dispels Some Fears), while the Spanish Expansion ran an article stating that the auctions went well despite a more intense crisis (Italia salva con éxito su subasta en pleno rebrote de la crisis de deuda). In other words, explained The Hindu Business Liner, the Spanish storm did not effect Italian debt (Italian bonds find buyers despite Spanish storm). On the other hand, the calm auction of zero coupon treasury certificates (Ctz) on September 25 showed that Italy has less difficulty in selling its bonds Washington Post – Italy easily sells bonds, borrowing costs down) with yields down since March Expansion – Italia logra emitir deuda a dos años a su menor coste desde marzo).
Monti calms the markets – Le Figaro explained that Mario Monti also calmed the markets (Monti rassure les marchés*) with the Prime Minister’s openness for a second term while in the country’s extraordinary conditions persisted making the rounds on September 27 and 28. There were articles in the major foreign papers (New York Times – Italy Premier Monti Says He’d Consider Another Term; Die Zeit – Monti schließt zweite Amtszeit doch nicht völlig aus; Les Echos – Monti n’exclut pas de reprendre la tête du gouvernement après les élections*; La Vanguardia – Monti admite que podría seguir al frente de Italia más allá del 2013; Financial Times – Monti hints at staying on for longer term).
No crisis for Italian luxury brands – The expected slowdown of world luxury goods markets never appeared, at least looking at Prada. According to Taiwan’s China Post the Italian fashion house quoted on the Hong Kong market is proof that luxury in good health (reported by Reuters, September 24 – Prada reassures against hysteria over luxury slowdown). The group’s growth was also discussed in South China Morning Post (September 24 – Asia sales put Prada in fine shape*).
But Italian fashion is not the only trend-setter. According to the Financial Times, there is also Yoox, the Italian group specializing in online sales of luxury products, that dominates the sector (September 25 – Fashion embraces Yoox’s online model). And along with the new points of reference, other groups have confirmed their position. Benetton for example is once more in the spotlight as it works to be reborn on the American market (Newsweek, September 23 – Benetton’s Rebirth).
And a few thousand miles further south in Argentina, the discussion centers around Italian lifestyels. According to La Nacion, a Spritz, “the taste of Italy” is conquering bars in Buenos Aires. (September 22 – Spritz, el sabor de Italia, conquista Buenos Aires).
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