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Italy’s latest 2-year CTZ auction cleared at 2.890%, up from 2.150% previously, showing investors demanded a higher return to hold short-dated Italian government paper. The move points to firmer short-end funding costs and suggests the market is pricing a somewhat tighter risk and rate backdrop for Italian debt.

Source: Italian Ministry of Economy and Finance (MEF) — 2-Year CTZ auction results.

Switzerland’s ZEW expectations index dropped to -35.0 in March from 9.8 in February, pointing to a sharp deterioration in investor sentiment. The indicator, published by UBS and CFA Society Switzerland, shows that financial-market participants turned markedly more cautious about the six-month outlook, with the March reading falling to its lowest level in about six months.

Source: UBS & CFA Society Switzerland — ZEW / CS-CFA-style economic sentiment survey for Switzerland, as reported in market data releases.

Germany’s ifo Business Climate Index fell to 86.4 in March from 88.4 in February, reflecting a clear loss of confidence in Europe’s largest economy. The weakness came mainly from the outlook component, with business expectations dropping to 86.0 from 90.2, while the current assessment held steady at 86.7. The ifo Institute said uncertainty among companies increased noticeably and hopes for a recovery were pushed back.

Source: ifo Institute — ifo Business Climate Index, March 2026.

Spain’s producer price index fell 7.0% year on year in February, a much sharper decline than -2.8% previously, signaling a renewed drop in pipeline inflation. Official data from Spain’s statistics office also showed industrial producer prices fell 3.1% month on month, suggesting disinflation at the factory-gate level intensified materially in February.

Source: Spain’s National Statistics Institute (INE) — Industrial Price Index, February 2026.

Portugal’s central bank has lowered its 2026 economic growth forecast to 1.8%, down from 2.3% in its December 2025 projections, pointing to a weaker external backdrop. In its March 2026 Economic Bulletin, Banco de Portugal said the downgrade reflects the deterioration in external conditions following the late-February attack on Iran, while the forecast table shows the reduction from the earlier 2.3% estimate.

The central bank said the near-term profile is being shaped by extreme weather conditions at the start of the year as well as the adverse effects of the Middle East conflict. It also noted that oil prices in euro terms had risen sharply after the attack on Iran, adding to the pressure on the outlook.

Source: Banco de Portugal, Economic Bulletin — March 2026.

Germany’s latest 5-year Bobl auction also showed higher funding costs, with the average yield at 2.72%, up from 2.43% at the previous reopening earlier this month. The official debt-agency factsheet shows the reopening on 24 March 2026 carried a bid-cover ratio of 1.1, indicating demand was adequate but less aggressive than in earlier sales as higher yields did more of the work.

Source: Deutsche Finanzagentur — Factsheet / issuance results for 2.50% Federal note, series 193 (DE000BU25067).

The euro area’s March PMI data pointed to a near-stalling economy. Manufacturing PMI improved to 51.4 from 50.8, but services PMI slipped to 50.1 from 51.9, while the composite PMI fell to 50.5 from 51.9. That left the bloc barely above stagnation, with growth slowing to a 10-month low.

The figures suggest manufacturing is stabilizing, but the slowdown in services is weighing more heavily on overall activity across the euro area.

Source: S&P Global Market Intelligence / HCOB — Flash Eurozone PMI.

Germany’s March PMI data showed a mixed but still expansionary picture. Manufacturing PMI rose to 51.7 from 50.9, moving further above the 50 threshold and marking a stronger factory backdrop, while services PMI slowed to 51.2 from 53.5. The composite PMI eased to 51.9 from 53.2, suggesting overall private-sector growth continued but lost momentum compared with February.

The data suggest Germany’s industrial side improved, but softer services activity kept the broader recovery from gaining stronger traction.

Source: S&P Global Market Intelligence / HCOB — Flash Germany PMI.

France’s March PMI data painted a mixed picture. Manufacturing PMI edged up to 50.2 from 50.1, staying just above the 50 line that separates expansion from contraction, but services PMI fell to 48.3 from 49.6 and the composite PMI also dropped to 48.3 from 49.9. That left France’s private sector in contraction territory, with Reuters reporting the weakest overall reading since October.

Source: S&P Global Market Intelligence / HCOB — Flash France PMI; Reuters.

Italy’s car market stayed firm in February. Italian car registrations rose 14.0% year on year and 10.7% month on month in the data you shared, extending the recovery seen at the start of the year. UNRAE said February registrations reached 157,334 units, up from 137,965 a year earlier, suggesting demand remained resilient even as the broader European auto sector stayed mixed.

Source: UNRAE — Italian passenger car registrations / February market release.

Germany’s car market improved in February after a weak January. The official figures showed 211,262 new passenger-car registrations in February, up 3.8% year on year. Compared with 193,981 registrations in January, that amounts to an increase of about 8.9% month on month, suggesting the market regained some traction heading into the spring period.

Source: Kraftfahrt-Bundesamt (KBA) — New passenger-car registrations.

France’s new-car market remained under pressure in February. Official data showed 120,764 new passenger-car registrations, down 14.7% year on year from February 2025. That was still above January’s 107,157 registrations, which implies a roughly 12.7% month-on-month rebound, but the broader picture remains soft after a weak start to the year.

Source: Plateforme Automobile (PFA) — Monthly French auto market release, based on PFA/AAA DATA.