Another historic result for the Italian Treasury. This morning via XX Settembre put it up for auction Six-monthly bots for 7 billion euro, the maximum amount offered, paying an interest rate equal to 0,09%: it's about the lowest yield ever, almost half compared to the 0,16% recorded in the analogous January auction.
Good also the question: the amount requested was 12,6 billion, for a coverage ratio of 1,81, up on the previous 1,74.
Immediately after the announcement of the result of the auction, the spread between Btp and Bund ten-year stands at 110 basis points, slightly up on yesterday's close (106 bps). On the equity side, however, in the same minutes the Ftse Mib index of Business Square leaves about half a percentage point on the field.
All this happens when there are now only eight days left before the launch of the quantitative easing by the European Central Bank, which will start on 5 March. Already in recent sessions the markets had positioned themselves on the new scenario, which benefits the debt securities of the "periphery" of the euro area, slightly weakening the German Bund.
