The overall value of gross bond issues by the Italian Treasury for 2014 will be "slightly lower than the 470 billion euro forecast in recent months". This was revealed by Maria Cannata, head of the public debt department of the Italian Treasury, underlining the positive impact of the recent auctions at nominal level. The Treasury, taking into account the September auctions, has in fact already exceeded 75% of its financing needs for the current year.
On the drop in the spread, which on 5 September reached its lowest since April 2011 at 132 basis points, Maria Cannata comments that "it is already falling more than expected". To a question on the possibility of a private placement lasting more than 30 years, after the recent 50-year issue by Spain, Cannata replied that “it always depends on investor demand. There is some open discussion, then we have to see if we like the levels or not ”, she concluded.
