Another success for the Italian Treasury. After the record set yesterday by the Bots, were placed on the market this morning BTP for a total of 7,2 billion euros.
In detail, the Ministry of the Economy has sold three-year titles for 3,5 billion, the maximum amount offered. The average interest rate fell to 0,93% from 1,12% a month ago, hitting a new all-time low. THEThe three-year period in December 2016 received offers for 4,93 billion, equal to 1,41 times the amount in the auction.
Also placed 2,5 billion titles at seven years old (rates down since 2,71 to 2,44%) and 1,225 billion of the thirty years (yield dropped to 4,27 from 4,59%). The seven-year in May 2021 received offers for 3,67 billion, with a coverage ratio of 1,47 (1,63 last month), while the thirty-year took in a demand equal to 1,844 billion (coverage ratio improved to 1,51 from 1,37 in February).
However, the positive outcome of the auction had a limited impact on the spread and on the Stock Exchange. Immediately after the communication of the result obtained by the Treasury, the differential between the 10-year Btp and the Bund it is still on the rise to 165 basis points, while in Piazza Affari the Ftse Eb leaves about one percentage point on the field.
