Rates up slightly in today's five- and ten-year BTP auction. The five-year yield rose to 5,84% from 5,66% in May and the ten-year yield to 6,19% from 6,03%. The treasury has placed securities totaling 5,4 billion just below the target of 5,5 billion, of which 2,5 billion for five years. However, the bid to cover ratio over the ten-year period fell to 1,283 from 1,4 in May.
After the auction, the Btp-bund spread reacted well, dropping to 466 points and a yield of 6,18% after an intraday high of 478 basis points. Shortly after, however, he is up again to 471 points. Piazza Affari briefly resets the losses after the auction, reaching +0,01%. However, the Ftse Mib resumed its downward path shortly after and returned down by 0,6%.
