Rising demand and falling rates to historic lows. The Treasury successfully closes the Bot auction launched this morning. All the annual securities offered were placed, equal to 6,5 billion eurosa return fell for the first time below the psychological threshold of 0,5%: compared to 0,65% in the similar auction in May, in fact, rates fell up to 0,495%.
As for Required Knowledge, were equal to 1,7 times the amount offered, exceeding the previous coverage ratio of 1,64. After the announcement of the auction results, the spread between ten-year BTPs and the equivalent German Bunds, it is stable at 149 basis points (yesterday it closed at 143). The yield is at 2,92%. However, Spain does even better: the Bonos-Bund differential marks 122 basis points, for a rate of 2,65%.
