Another positive result for Italy on the government bond market. This morning the Treasury placed 3-year BTPs for 3,5 billion eurothe full expected amount. Yields fell to lowest since October 2010, at 2,64%, against the 2,86% recorded in last month's auction. Good demand, amounting to approximately 5,2 billion (1,50 times the amount offered).
The Treasury also sold 816 thousand euros of 15-year off-the-run BTPs (maturity 2023) at a yield of 4,81%. The maximum amount offered was 1,5 billion, while the demand was approximately 1,2 billion.
Also placed 682 thousand euros of 30-year off-the-run BTPs (maturity 2029) at a rate of 5,33%. The offer amounted to 1,5 billion, the demand amounted to just over a billion.
In all, today the Treasury has placed 5 billion euro of securitiesmaximum pre-set amount.
Immediately after the announcement of the auction results, the BTP-Bund spread it travels just below 360 basis points, after closing the last session at 362. The yield on ten-year bonds thus fell below 5%, to 4,951%.
Meanwhile, on the stock market, Business Square it remains weak, down by 0,1%.
