Research: latest publications
The publications in this section represent Investment Research and have been prepared and distributed by the Intesa Sanpaolo. The publications are presented exclusively for information purposes. Accordingly, they do not constitute, nor are they intended to constitute, and may not be interpreted as, documents that offer for sale or subscription any type of financial instrument.
Information on Intesa Sanpaolo’s Research Dept. organisation, governance and the relative regulatory disclosures can be found at Intesa Sanpaolo website.
The research made openly available in this section of the web site qualifies as a ‘minor non-monetary benefit’ pursuant to provisions of Delegated Directive (EU) 2017/593 as it is: i) Macroeconomic analysis or Fixed Income, Currencies and Commodities material made openly available to the general public - Q&A on Investor Protection topics - ESMA 35-43-349, Question 8 & 9; ii) Written material from a third party that is commissioned and paid for by a corporate issuer or potential issuer to promote a new issuance by the company, or where the third party firm is contractually engaged and paid by the issuer to produce such material on an ongoing basis (Specialist/Corporate Broker/Sponsor contract), provided that the relationship is clearly disclosed in the material and that the material is made available at the same time to any investment firms wishing to receive it or to the general public - Delegated Directive(EU) 2017/593 - Art. 12 paragraph 3b.
Focus United States - FOMC meeting: a difficult balancing act - 30 January 2023
Focus Stati Uniti - Riunione FOMC: difficili equilibrismi - 30 gennaio 2023
Focus Area euro -BCE: rialzo di 50pb e retorica ancora aggressiva alla prossima riunione - 30 gennaio 2023
Forex Flash - 30 January 2023
Forex Flash - 30 gennaio 2023
Commodity Flash - 30 January 2023
Macro Rapid Response - Area euro: ESI in crescita più delle attese a gennaio
Specialist/CB Italian Equity Daily
Market movers - 30 January 2023
Macro Flash - 30 gennaio 2023
Mondadori (BUY/TP EUR 2.5) - Company Flash
2023 Euro Area Government Issuance - 27 January 2023
2023 Spanish Government Issuance - 27 January 2023
Weekly Economic Monitor - 27 January 2023
Weekly Economic Monitor - 27 gennaio 2023
2023 Italian Government Issuance - 27 January 2023
Interest Rate Forecasts - The market looks beyond short-term rate hikes
Auction Calendar - Euro Area and US Govt Bonds - 23 January 2023
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
IGD (HOLD from Add/New TP EUR 3.4) - Company Flash
Commodity Flash - 27 January 2023
Forex Flash - 27 January 2023
Forex Flash - 27 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 27 January 2023
Macro Flash - 27 gennaio 2023
IRS - Green Bond Brief
G10 Forex - G10 currencies in 2023: new monetary policy phase, new trend - 26 January 2023
Forex Flash - 26 January 2023
Commodity Flash - 26 January 2023
Macro Rapid Response - Italia: fiducia delle imprese in rialzo a gennaio, in calo il morale dei consumatori
Forex Flash - 26 gennaio 2023
Macro Rapid Response - Italy: business confidence up in January, consumer sentiment edges down
Forex G10 - Il 2023 delle valute G10: nuova fase di politica monetaria, nuovo trend - 26 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 26 January 2023
Macro Flash - 26 gennaio 2023
Views on the Italian Economy - January 2023
Forex Flash - 25 January 2023
Forex Flash - 25 gennaio 2023
Scenario Macroeconomico Trimestrale - Le prospettive dell’economia nel 2023 - Gennaio 2023
Macro Rapid Response - Germania. IFO: cauto ottimismo per il nuovo anno
Commodity Flash - 25 January 2023
Specialist/CB Italian Equity Daily
Market movers - 25 January 2023
Macro Flash - 25 gennaio 2023
Forex Flash - 24 January 2023
Forex Flash - 24 gennaio 2023
Macro Rapid Response - INSEE Business Climate
Macro Rapid Response - PMI area euro: torna a crescere l’economia a gennaio
Commodity Flash - 24 January 2023
Specialist/CB Italian Equity Daily
Market movers - 24 January 2023
Macro Flash - 24 gennaio 2023
Auction Calendar - Euro Area and US Govt Bonds - 23 January 2023
La Bussola dell'Economia Italiana - Gennaio 2023
Focus Commodity - Gold sector and precious metals: recent trends and 2023 perspectives
Focus Commodity - Settore orafo e metalli preziosi: trend recenti e prospettive 2023
IRS - Green Bond Brief
Forex Flash - 23 January 2023
Forex Flash - 23 gennaio 2023
IRS - 2023: global rates in a stagflation scenario
Commodity Flash - 23 January 2023
Specialist/CB Italian Equity Daily
Macro Flash - 23 gennaio 2023
Market movers - 23 January 2023
2023 Euro Area Government Issuance - 20 January 2023
2023 Spanish Government Issuance - 20 January 2023
2023 Italian Government Issuance - 20 January 2023
Weekly Economic Monitor - 20 January 2023
Weekly Economic Monitor - 20 gennaio 2023
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Forex Flash - 20 January 2023
Forex Flash - 20 gennaio 2023
Focus Commodity - A geographical perspective - 20 01 2023
Focus Commodity - Materie prime, una prospettiva geografica - 20 01 2023
Focus Commodity: Gold Sector - January 2023
Specialist/CB Italian Equity Daily
Market movers - 20 January 2023
Macro Flash - 20 gennaio 2023
Focus United States - Is the labour market really hot? - 19 January 2023
Focus Stati Uniti - Il mercato del lavoro è davvero caldo? - 19 gennaio 2023
Forex Flash - 19 January 2023
Forex Flash - 19 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 19 January 2023
Macro Flash - 19 gennaio 2023
Seri Industrial (BUY/New TP EUR 11.6) - Company Note
Wiit (BUY/New TP EUR 30.0) - Company Note
Forex Flash - 18 January 2023
Forex Flash - 18 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 18 January 2023
Macro Flash - 18 gennaio 2023
Focus Commodity: Settore Orafo - Gennaio 2023
Forex Flash - 17 January 2023
Forex Flash - 17 gennaio 2023
Market movers - 17 January 2022
Specialist/CB Italian Equity Daily
Macro Flash - 17 gennaio 2023
Forex Flash - 16 January 2023
Forex Flash - 16 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 16 January 2022
Macro Flash - 16 gennaio 2023
Weekly Economic Monitor - 13 January 2023
Weekly Economic Monitor - 13 gennaio 2023
Auction Calendar - Euro Area and US Govt Bonds -13 January 2023
2023 Euro Area Government Issuance - 13 January 2023
2023 Italian Government Issuance - 13 January 2023
Forex Flash - 13 January 2023
2023 Spanish Government Issuance - 13 January 2023
Forex Flash - 13 gennaio 2023
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Macro Rapid Response - Italia: produzione industriale più debole del previsto
Macro Rapid Response - Italy: industrial output down more than expected
Commodity Flash - 13 January 2023
Specialist/CB Italian Equity Daily
Market movers - 13 January 2023
Macro Flash - 13 gennaio 2023
Macro Rapid Response - USA – Buone notizie: L’inflazione core a dicembre è spinta dall’abitazione
ErreDue - Initiation of Coverage
Commodity Flash - 12 01 2023
Forex Flash - 12 January 2023
Forex Flash - 12 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 12 January 2023
Macro Flash - 12 gennaio 2023
Commodity Flash - 11 01 2023
Forex Flash - 11 January 2023
Forex Flash - 11 gennaio 2023
Specialist/CB Italian Equity Daily
Market movers - 11 January 2023
Macro Flash - 11 gennaio 2023
Forex Flash - 10 January 2023
Forex Flash - 10 gennaio 2023
Commodity Flash - 10 01 2023
Money Market Monitor- Higher for longer - 10 January 2023
Specialist/CB Italian Equity Daily
Market movers - 10 January 2023
Macro Flash - ERRATA CORRIGE - 10 gennaio 2023
Auction Calendar - Euro Area and US Govt Bonds - 09 January 2023
Market movers - 9 January 2023
Specialist/CB Italian Equity Daily
Macro Flash - 9 gennaio 2023
Specialist/CB Italian Equity Daily
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Macro Rapid Response - Italia: inflazione in calo ma la discesa sarà lenta
Macro Rapid Response - Italy: inflation is in its downward phase
Market movers - 5 January 2023
Macro Flash - 5 gennaio 2023
Specialist/CB Italian Equity Daily
Macro Rapid Response - Verbali FOMC: timori per un allentamento indesiderato delle condizioni finanziarie
Specialist/CB Italian Equity Daily
Market movers - 4 January 2023
Macro Flash - 4 gennaio 2023
Macro Rapid Response - Germania: le misure governative frenano l’inflazione
2023 Euro Area Government Issuance - 03 January 2023
Market movers - 3 January 2023
Macro Flash - 3 gennaio 2023
2023 Spanish Government Issuance -02 January 2023
2023 Italian Government Issuance - 02 Janauary 2023
Auction Calendar - Euro Area and US Govt Bonds -02 January 2023
Specialist/CB Italian Equity Daily
Market movers - 2 January 2023
Macro Flash - 2 gennaio 2023
Specialist/CB Italian Equity Daily
Specialist/CB Italian Equity Daily
Specialist/CB Italian Equity Daily
Weekly Economic Monitor - 23 December 2022
Weekly Economic Monitor - 23 dicembre 2022
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Pattern (BUY/TP EUR 7.7) - Company Note
Macro Rapid Response - Italia: fiducia in ripresa a dicembre (ma non nel manifatturiero)
Commodity Flash - 23 December 2022
Macro Rapid Response - Italy: confidence up for a second month in December
Specialist/CB Italian Equity Daily
Market movers - 23 December 2022
Macro Flash - 23 dicembre 2022
Auction Calendar - Euro Area and US Govt Bonds -22 December 2022
Macroeconomic Outlook - December 2022
Commodity Flash - 22 December 2022
IRS - The impact of QT on Euro real rates
Specialist/CB Italian Equity Daily
Market movers - 22 December 2022
Macro Flash - 22 dicembre 2022
Focus Commodity - Metalli Preziosi - 21 dicembre 2022
Focus Commodity - Precious Metals - 21 December 2022
IRS - L’impatto del QT sui tassi reali euro
Commodity Flash - 21 December 2022
Specialist/CB Italian Equity Daily
Market movers - 21 December 2022
Macro Flash - 21 dicembre 2022
Views on the Italian Economy - December 2022
Scenario Macroeconomico Trimestrale - Dicembre 2022
Focus Commodity - Scenario Trimestrale - Dicembre 2022
Focus Commodity - Quarterly Outlook - December 2022
G10 Forex - NOK (Norwegian krone) - 20 December 2022
Forex G10 - NOK (Corona norvegese) - 20 dicembre 2022
Forex Flash - 20 December 2022
Forex Flash - 20 dicembre 2022
Commodity Flash - 20 December 2022
Specialist/CB Italian Equity Daily
Market movers - 20 December 2022
Macro Flash - 20 dicembre 2022
SeSa (BUY/TP EUR 190) - Company Note
La Bussola dell'Economia Italiana - Dicembre 2022
Forex Flash - 19 December 2022
Macro Rapid Response - Germania. IFO: sarà una recessione meno profonda del previsto
Commodity Flash - 19 December 2022
Forex Flash - 19 dicembre 2022
Specialist/CB Italian Equity Daily
Market movers - 19 December 2022
Macro Flash - 19 dicembre 2022
Auction Calendar - Euro Area and US Govt Bonds - 16 December 2022
2023 Euro Area Government Issuance - 16 December 2022
Weekly Economic Monitor - 16 December 2022
Weekly Economic Monitor - 16 dicembre 2022
2023 Spanish Government Issuance - 16 December 2022
G10 Forex - G4 Currencies (quarterly update) - 16 December 2022
2023 Italian Government Issuance - 16 December 2022
Forex G10 - Valute G4 (aggiornamento trimestrale) - 16 12 2022
Forex Flash - 16 December 2022
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Forex Flash - 16 dicembre 2022
Commodity Flash - 16 December 2022
Macro Rapid Response - PMI area euro migliori delle attese a dicembre ma ancora su livelli recessivi
Specialist/CB Italian Equity Daily
Market movers - 16 December 2022
Macro Flash - 16 dicembre 2022
Macro Rapid Response - ECB: only 50bp, but more significant increases are on the way
Macro Rapid Response - BCE: soltanto 50pb di rialzo, ma altri significativi aumenti sono in arrivo
Forex Flash - 15 December 2022
Forex Flash - 15 dicembre 2022
Market movers - 15 December 2022
Macro Flash - 15 dicembre 2022
Macro Rapid Response - FOMC: rialzi più lenti, punto di arrivo più alto
IRS - 2023 EGB issuance
IRS- Eurozona: emissioni governative in aumento nel 2023
Forex Flash - 14 December 2022
Macro Rapid Response - Area euro: produzione industriale in calo ad ottobre
Forex Flash - 14 dicembre 2022
Commodity Flash - 14 December 2022
Market movers - 14 December 2022
Macro Flash - 14 dicembre 2022
Macro Rapid Response - USA - L’inflazione core rallenta ancora: 0,2% m/m a novembre
G10 Forex - CAD (Canadian dollar) - 13 December 2022
Forex G10 - CAD (Dollaro canadese) - 13 dicembre 2022
Forex Flash - 13 December 2022
Forex Flash - 13 dicembre 2022
Commodity Flash - 13 December 2022
Macro Rapid Response - Italia: cala più del previsto la produzione industriale
Macro Rapid Response - Italy’s IP slips more than expected in October
Specialist/CB Italian Equity Daily
Market movers - 13 December 2022
Macro Flash - 13 dicembre 2022
Forex Flash - 12 December 2022
Forex Flash - 12 dicembre 2022
Specialist/CB Italian Equity Daily
Market movers - 12 December 2022
Macro Flash - 12 dicembre 2022
Auction Calendar - Euro Area and US Govt Bonds
2022 Euro Area Government Issuance - 09 December 2022
2022 Spanish Government Issuance - 09 December 2022
2022 Italian Government Issuance - 09 December 2022
illimity (BUY/New TP EUR 12.2) - Company Note
Weekly Economic Monitor - 9 December 2022
Weekly Economic Monitor - 9 dicembre 2022
Market movers - 9 December 2022
Macro Flash - 9 dicembre 2022
Specialist/CB Italian Equity Daily
Mondadori (BUY/New TP EUR 2.5) - Company Note
Focus Euro area - ECB: pace of rate hikes to slow, but the terminal rate will be higher than currently priced in - 7 December 2022
Focus Area euro - BCE: il ritmo dei rialzi rallenterà , ma il punto di arrivo sarà più alto di quanto oggi scontato - 7 dicembre 2022
Focus United States - FOMC: rates on a slower path, with a higher end-point - 7 December 2022
Focus Stati Uniti - FOMC: ritmo dei rialzi più lento, punto di arrivo più alto - 7 dicembre 2022
Specialist/CB Italian Equity Daily
Market movers - 7 December 2022
Macro Flash - 7 dicembre 2022
Salcef Group (BUY/New TP EUR 24.5) - Company Note
G10 Forex - SEK (Swedish krona) - 6 December 2022
Forex G10 - SEK (Corona svedese) - 6 dicembre 2022
IRS - Auction Calendar - Euro Area and US Govt Bonds -06 December 2022
IRS - EUR 2-10Y swap sloped close to its lows
IRS - Pendenza EUR 2-10 anni swap sui minimi
Specialist/CB Italian Equity Daily
Market movers - 6 December 2022
Macro Flash - 6 dicembre 2022
G10 Forex - EUR/USD: upward reversal. But of limited scope - 5 December 2022
Forex G10 - EUR/USD: svolta rialzista. Ma di portata limitata - 5 dicembre 2022
Forex Flash - 5 December 2022
Forex Flash - 5 dicembre 2022
Specialist/CB Italian Equity Daily
Market movers - 5 December 2022
Macro Flash - 5 dicembre 2022
2022 Euro Area Government Issuance - 02 December 2022
Macro Rapid Response - USA – L’occupazione corre ancora, ma la Fed rallenterà i rialzi comunque
2022 Spanish Government Issuance - 02 December 2022
Weekly Economic Monitor - 2 December 2022
Weekly Economic Monitor - 2 dicembre 2022
2022 Italian Government Issuance - 02 December 2022
Openjobmetis (BUY/New TP EUR 11.4) - Company Note
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Commodity Flash - 02 December 2022
Specialist/CB Italian Equity Daily
Market movers - 2 December 2022
Macro Flash - 2 dicembre 2022
Irce (HOLD/New TP EUR 2.1) - Results Note
Specialist/CB Italian Equity Daily
Market movers - 1 December 2022
Macro Flash - 1 dicembre 2022
TraWell (BUY/New TP EUR 10.7) - Company Note
Macro Rapid Response - Area euro: inflazione vicina ad un punto di svolta ma l’indice core è atteso crescere ancora
Commodity Flash - 30 November 2022
Specialist/CB Italian Equity Daily
Market movers - 30 November 2022
Macro Flash - 30 novembre 2022
Newlat Food (BUY/New TP EUR 7.9) - Results Note
Equita Group (BUY/New TP EUR 4.4) - Company Note
Centrale del Latte d'Italia (BUY/New TP EUR 3.9) - Results Note
Focus Stati Uniti - Le tappe verso la recessione del 2023 - 29 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 29 November 2022
Macro Flash - 29 novembre 2022
Forex Flash - 28 November 2022
Commodity Flash - 28 November 2022
Forex Flash - 28 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 28 November 2022
Macro Flash - 28 novembre 2022
Gruppo MutuiOnline (BUY/New TP EUR 32.8) - Results Note
Auction Calendar - Euro Area and US Govt Bonds - 25 November 2022
2022 Euro Area Government Issuance - 25 November 2022
Weekly Economic Monitor - 25 November 2022
Weekly Economic Monitor - 25 novembre 2022
2022 Spanish Government Issuance - 25 November 2022
Calendar of macroeconomic data and events
Calendario dei dati macroeconomici e degli eventi
Macro Rapid Response - Italia: indici di fiducia in ripresa a novembre
Macro Rapid Response - Italy’s confidence on the rebound in November
Forex Flash - 25 November 2022
Commodity Flash - 25 November 2022
Forex Flash - 25 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 25 November 2022
Macro Flash - 25 novembre 2022
Views on the Italian Economy - November 2022
2022 Italian Government Issuance - 24 November 2022
Macro Rapid Response - Germania: miglioramento dell’IFO ma la recessione è inevitabile
Macro Rapid Response - INSEE Business Climate novembre
Forex Flash - 24 November 2022
Forex Flash - 24 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 24 November 2022
Macro Flash - 24 novembre 2022
Macro Rapid Response USA - Verbali FOMC: avanti verso il 5%, ma il picco è vicino
Forex Flash - 21 November 2022
G10 Forex - GBP (Sterling) - 23 November 2022
Forex G10 - GBP (Sterlina) - 23 novembre 2022
LU-VE (ADD/New TP EUR 27.0) - Results Note
Sanlorenzo (BUY/New TP EUR 40.6) - Company Note
Commodity Flash - 23 November 2022
La Bussola dell'Economia Italiana - Novembre 2022
Macro Rapid Response area euro - PMI migliori delle attese ma ancora su livelli recessivi
Specialist/CB Italian Equity Daily
Market movers - 23 November 2022
Macro Flash - 23 novembre 2022
REVO Insurance (ADD/TP EUR 10.4) - Initiation of Coverage
Banca IFIS (BUY/New TP EUR 19.0) - Results Note
Auction Calendar - Euro Area and US Govt Bonds - 22 November 2022
Commodity Flash - 22 November 2022
Forex Flash - 22 November 2022
Forex Flash - 22 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 22 November 2022
Macro Flash - 22 novembre 2022
Eurotech (BUY/New TP EUR 4.7) - Results Note
Banca Sistema (BUY/New TP EUR 1.97) - Results Note
Commodity Flash - 21 November 2022
Forex Flash - 21 novembre 2022
Specialist/CB Italian Equity Daily
Market movers - 21 November 2022
Macro Flash - 21 novembre 2022
2022 Italian Government Issuance - 18 November 2022
2022 Euro Area Government Issuance - 18 November 2022
2022 Spanish Government Issuance - 18 November 2022
Weekly Economic Monitor - 18 November 2022
Weekly Economic Monitor - 18 novembre 2022
Forex Flash - 18 November 2022
F.I.L.A. (BUY/New TP EUR 11.6) - Company Note