Portugal today successfully placed 750 million euros in three-month Treasury bills. The Portuguese debt management agency, Igcp, managed to place the maximum amount of the indicative offer which fluctuated between 500 and 750 million euros.
The average yield remained below 5%, settling at 4,967%, slightly lower than the 4,982% recorded in the last comparable issue (which took place on 20 July). The supply-demand ratio also improved, going from 2,6 to 2,4.
This is the first issue after theagreement on Greece and the country he can be considered satisfied if one thinks of the risks of contagion due to the widening of the debt crisis towards Italy and Spain.
