This morning the Italian Treasury placed 616,432 million euros in Five-year inflation-indexed BTPs. The maximum amount offered was one billion and the requests reached 1,242 billion euros. The interest rate stood at 2,16%, up 36 basis points on the last placement of the same type. Also placed 383,568 million in Indexed BTPs with a 15-year maturity. Claims came in at 1,137 billion and the yield was 3,02%.
Finally, the Treasury placed Ctz biennial for 2,825 billion. The maximum offer was three billion and demand reached 4,027 billion. Rates rose to 1,746%, up by six basis points (1,682% at the February auction).
The spread between Btp and Bund remains stable at 305 basis points after the results of the Treasury auction. However, the most important test for Italy is Wednesday when up to 4 billion euros of the new 5-year BTP and up to 3 billion euros of the 10-year benchmark will be placed.
