Good result this morning for the auction of Italian government bonds. The Treasury has placed Ctz maturing in 2014 for three billion euros, the full amount offered. Interest rates have fallen: yield dropped to 2,397% from 2,532% in the last September auction. Stable the question which exceeded the offer by 1,65 times.
The Treasury also awarded Btp indexed to inflation maturing in 2021 and 2026 for one billion euro, also in this case the maximum target. On the 2021 maturity, the yield was 3,33% and on the 2026 maturity, 3,75%.
Mid-morning it BTP-Bund spread it is up to 336 basis points, against 327 at yesterday's close. In the same minutes Business Square is down by half a point.
