Good result for today's auction of government bonds. This morning the Treasury has placed three-year BTPs for three and a half billion euros, the maximum amount offered. Yields fell below 2% (to 1,92%), down 37 basis points from last month's similar auction (2,29%). Demand decreased slightly, stopping at 4,68 billion, for a coverage ratio of 1,34.
Also assigned Btp to 15 years for 1,5 billion, also in this case the maximum amount offered. Yields stood at 4,07% and the bid to cover at 1,49 (requests reached 2,233 billion). The Treasury finally placed all three billion Ccteu at 5 years offered, with rates at 2,44% and a coverage ratio of 1,35 (demand at 4,059 billion).
Immediately after the announcement of the results of the auction, Piazza Affari is still in negative territory by about one point, while the Btp-Bund spread rises up to the threshold of 260 basis points.
