The Treasury today allocated 5-, 10- and 15-year BTPs, together with the 8-year CCTeu, for a total of 8 billion, the maximum of the expected range (6-8 billion). In detail, € 3.25 billion of 5-year BTPs (range 2.75-3.25 billion) were placed with demand exceeding 4.7 billion. The coverage ratio was 1.45. The 5-year BTP with maturity December 2027 was allocated to the yield of + 3.09%, up by 28 basis points compared to the previous auction.
Today’s BTP auction saw the Treasury also allocate the 10-year BTP with a maturity of December 2032 for 2.25 billion, the maximum of the expected amount (range 1.75-2.25 billion). The allotment yield was + 3.76%, +30bps compared to the previous auction. The demand was 3.4 billion with a coverage ratio of 1.54.
The 15-year BTP with maturity March 2030 has also been allocated for 1.25 billion (range 0.75-1.25 billion). The assignment yield was + 3.30%, with a coverage ratio of 1.80.
Finally, the Treasury assigned the 8-year CCTeu expiring in October 2030 for 1.25 billion. Demand was 2.1 billion with a coverage ratio of 1.71. The CCTeu award yield was + 1.04% (-22 bps compared to the previous auction).