Good demand and sharply declining yields for BTPs assigned at auction by the Treasury. In detail, the Treasury issued the first tranche of the new 3-year BTP benchmark maturing on 15/01/2023 for 4 billion against a request of 5,984 billion. The yield fell by 50 cents, slipping below zero for the first time since November 2017 (when it set the all-time low on this maturity at -0,02%) settling at -0,01 percent.
The ninth tranche of the 7-year BTP expiring on 15/07/2026 was also placed: against requests for 3,302 billion, the amount issued amounted to 2,25 billion while the yield, down by 68 cents on the month's auction last year, it stood at 0,56 percent.
Finally, the fourth tranche of the 30-year BTP expiring on 01/09/2049, assigned for 1,5 billion against a total demand of 1,865 billion, achieved a gross yield of 2,06%. The auction regulation falls on the next 16th September.
