Yields up at the latest Btp auction. The Economy Ministry placed 7,25 billion euros of Treasury bills on Thursday morning, the full amount offered, but recorded rising interest rates on all maturities.
In detail, they have been placed Btp to 5 years, maturing in April 2026, for 2,75 billion (the expected range was between 2,25 and 2,75 billion), against a demand that reached 3,9 billion: the coverage ratio was therefore equal to 1,43. The yield instead stood at 0,17%, up by 12 basis points compared to the last auction of the same type.
The Treasury also placed 20231-year BTPs maturing in August XNUMX for a total amount of 2,5 billion euro (the expected range was between 2 and 2,5 billion). In this case, demand reached 3,59 billion, with a coverage ratio of 1,44, while the interest rate was set at 0,88%, up 15 basis points compared to the last similar issue.
In addition, another two billion tranche was sold Btp to 10 years – this time expiring in April 2031 – with demand close to 3 billion and a yield of 0,83%.
Finally, the Ministry of Economy has also placed the EU CCT expiring in April 2026 for an amount equal to 1,25 billion. Demand reached 2,4 billion, with a coverage ratio of 1,92. The yield remained in negative territory (-0,06%), although it increased by two basis points compared to the auction a month ago.
In the early afternoon, the yield differential between 10-year BTPs and similar German Bunds, it stands at 106 basis points, a substantially stable level compared to yesterday's closing.
In the same minutes, the Ftse Mib floats just above parity (+0,13%).
