Today’s BTP auction is once again full with yields rising by more than 50 basis points in the medium-long part of the curve. The Treasury has allocated securities for a total of € 7.75 billion, the maximum of the expected range (6.25-7.75 billion). In detail, the three-year BTP (maturity December 15, 2024) was allocated for 3 billion euro at a positive rate of 0.69% (+55 bp compared to last month). The coverage ratio was 1.38.
Among the other maturities, the 7-year BTP (maturity February 15, 2029) saw the allocation of securities for 3 billion with a yield of 1.52% (+63 bp compared to the previous auction). The coverage ratio was 1.46.
Finally, the 20-year BTP expiring in March 2041 (1.75 billion with a bid to cover of 1.54) assigned at the rate of 2.30%.