Ctz 2014: placed almost all of the expected 3 billion but the yield rises to 4,712%

Stable demand but rising yields for the May 2014 Ctz placed today. The treasury placed bonds worth 2,99 billion euros, only slightly below the maximum target of 3 billion, but had to offer yields of 4,712% compared to 4,037% on May 28th. However, the yield is below the 5% threshold. The bid to cover ratio is instead stable at 1,65 (1,66 in the previous auction). The Treasury also placed two BTPs indexed to euro area inflation, maturing in 2016 and 2026, for a total of 915 million euro. The yield of the 2016 BTP was 5,2% and that of the 2026 BTP was 5,29%.