A day to remember for the Italian Treasury, which placed this morning Btp to 10 years for 2,5 billion e titles at 5 years for 4 billion: in both cases interest rates recorded a new all-time lowrespectively at 2,81% (below 3% for the first time, -0,20 basis points compared to the previous similar auction) and 1,35% (-0,26).
La question was equal to 1,4 times the supply for 1,3-year bonds, while the coverage ratio for XNUMX-year bonds stood at XNUMX.
Also placed Ccteu maturing in November 2019 for 1,449 billion euro at a rate of 1,24%.
The issue was favored by the context of abundant liquidity in circulation and by the fact that securities amounting to 13,9 billion euro will mature in the next few days. There was therefore the decisive contribution of investors who chose to reinvest their capital.
The announcement of the result of the auction does not warm up the Stock Exchange, which for the moment continues to hover around parity. Even the Btp-Bund spread rose slightly, standing at 161 basis points.
