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The end-of-the-month triptych is underway. The Treasury allocated today the ‘short term’ Btp and the 7-year Btp for a total of 2.75 billion. In detail, 1.25 billion euros of 2-year ‘short term’ BTPs were placed (range was 1-1.25 billion), which took the place of the Ctz, with demand close to 2.6 bln. The coverage ratio was 2.07. The 2-year BTP (maturing May 2024) was allocated at a yield of +2.75%, down 13 basis points compared to the previous auction.
The 7-year BTP (maturity November 2024) was also allocated for 1.5 billion (range was 1.25-1.5 billion). The demand was 2.87 billion with a coverage ratio of 1.91. The allocation yield of the BTP was +2.54%.