Positive Btp auction for the Treasury. The Ministry of the Economy has placed three-year bonds worth 3,5 billion, with a demand of 5,334 billion. The yield was 3,91%, substantially stable compared to the 3,89% of the previous auction. The demand was equal to 1,52 times the amount offered against 1,43 in the last auction. In addition, 1,75 billion off-the-run securities were placed, also in this case at the maximum of the offer range.
After the auction, Milan shows no sign of diminishing its losses and is still in the red by about three points. Frankfurt and Paris lose about 2%, while London stands at -1,58%. Meanwhile, the tensions related to the Greek situation make the BTP-Bund spread travel ever higher, towards 430 points.
Meanwhile, the auction of Spanish bonos has also ended. Madrid placed 2,9 billion securities, against a maximum amount of 3 billion. The yield on 12-month bonds increased to 2,985% from 2,623%, while on 18-month maturities the rate rose to 3,302% from 3,11%. The Spanish spread reached an all-time high at 483 basis points.
