The Italian Treasury placed this morning six billion Btp at 5 and 10 years. In detail, 3,5 billion of bonds maturing in December 2018 (the maximum amount envisaged) and 2,5 billion of bonds maturing in March 2024 were sold.
As for the interest rates, in the first case they rose to 3,38% from 3,22% in July (the highest since June), while in the second they remained almost stable compared to the previous auction, at 4,46%. The most encouraging aspect is the influx of demand: the 1,53-year bid to cover rises to 1,35 times from XNUMX at the end of July.
Lo spread between Bpt and German Bund it drops slightly below 250 basis points. The yield of Italian ten-year bonds is 4,38%, while that of Spanish Bonos is higher by a tenth of a point.
