Below the updated breakdown on Italy's Bond Holders as of September (last available data).
ECB has been the main buyer since August 8th, and held
4% of the Italian bond market as of September. Domestic holders, mainly
financial institutions (banks) have gradually increased their holdings,
taking domestic holding from 55% to 56% of the total market. Foreign investors, consisting of European non-Italian banks and real money investors as well as international asset managers, have been the main seller of BTPs, reducing their holdings from 45% to 39%." As said earlier - nothing at all unexpected: everyone who can get out is
getting out. The only buyers are those for whom selling equates to
suicide. That said, we wish Italian banks and the ECB the best of luck
as they seek to purchase the €741 billion in bonds that
are still to be offloaded as Merkel persists in refusing to let the ECB
even considering announcing monetization intentions.