We’ve just spoken with the reporter responsible for the Bloomberg terminal “Italy Seeks to Sell China ‘Significant’ Amount of Bonds, FT Says,” that could have set off this big rumour about talks between China and Italy on bond purchases.
Blanche Gatt, a Bloomberg reporter based out of London, says her FT source will run on the front page of the Asian edition tomorrow — which she had the privilege to preview. No word on which other editions will also run the story.
UPDATE: FT has finally published that article everyone’s talking about. Check it out here.
Markets have bounced back since this confirmation, but are still down slightly on the day.
Here are some points from the article:
– China Investment Corp chairman Lou Jiwei led a delegation to Rome last week to speak with Italian Finance Minister Giulio Tremonti and Cassa Depositi e Prestiti — “a state-controlled entity that has established an Italian Strategic Fund open to foreign investors.” This is one of multiple meetings between Italian and Chinese officials.
– China already holds a significant amount of Italian debt — one Italian official told the FT it holds about 4% of Italy’s $2.6 trillion public debt.
– Sources specified in the report are “Italian officials.” They said further negotiations will be forthcoming.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.