Yields on Italy’s 10-year BTPs hovered around 3.37%, after rebounding from an 11-month low of 3.34% last week, as concerns over US-China trade tensions and turmoil in regional US banks eased, cooling the rush into safe-haven assets. Trump called his proposed 100% tariffs on Chinese goods unsustainable, and Treasury Secretary Bessent is expected to meet Chinese Vice Premier He Lifeng in Malaysia this week. Domestically, Prime Minister Giorgia Meloni’s right-wing coalition government became the third longest-serving postwar administration on October 19, underscoring political stability. On the macro front, attention turns to Friday’s delayed US September CPI report, a key guide for monetary policy, with markets widely expecting a 25-basis-point Fed rate cut at the next meeting. The European Central Bank is expected to hold rates steady, with a potential 25-basis-point cut by July 2026.