The Treasury today allocated 5 and 10 BTPs, together with the 7-year CCTeu, for a total of 6.25 billion, the maximum of the expected range (5-6.25 billion). In detail, € 2.75 billion of 5-year BTPs (range 2.25-2.75 billion) were placed with demand exceeding 4 billion. The coverage ratio was 1.48. The 5-year BTP expiring December 2027 was allocated to the yield of + 4.12%, up by 102 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 2.5 billion, the maximum of the expected amount (range 2-2.5 billion). The award yield was + 4.70%, +94 bps compared to the previous auction. The demand was 3.5 billion with a coverage ratio of 1.42.
Finally, the Treasury assigned the 7-year CCTeu expiring in April 2029 for 1 billion. The demand was 1.9 billion with a coverage ratio of 1.94. The CCTeu award yield was + 0.85% (+27 bps compared to the previous auction).