BTP return to positive rates to new lows in the medium-long auction – Reuters Italy

       

 MILAN, September 11 (Reuters) – After three sessions dedicated to the correction, the Italian bond back in positive territory, following a similar turnaround in many countries of the euro zone, in a session that saw new lows in the yields of all three-year BTP auction went today. In late morning, the rate drops to 10 year old Italian 2,394% from yesterday’s close of 2.415% and in parallel with the gap in yields between the Bund and the BTP on the stretch to 10 years narrows to 140 basis points from 141 last final session. “After the correction quite pronounced, that there was after the rally post-ECB, I believe that the market sentiment has turned from yesterday, probably supported by the last  survey on Scotland, less disturbing than the last. Another important issue is the announcement France, which has shifted the target deficit much in there. If Paris has this kind of attitude, it opens a little ‘space to other countries and, from the point of view of investors, it gives a little’ breathing on Italy fiscal policies, “said Riccardo Barbieri, strategist at Mizuho. Even in light of the retracement of the last days – which affected particularly the titles went to auction today – the result of placements today has been quite positive, with the bid-to-cover in the upside, despite the Treasury managed to sell a total of 6.957 billion , to an offer between 5 and 7 billion. In detail, the rate of BTP three years, placed on 2457000000 for 2-2.5 offered, fell to 0.52% from 0.84% ​​last auction in July, given that the Treasury has deleted placements in medium-long mid-August. The yield of 3 years net of the commission of 0.571%. New low even for  the rate of BTP to 7 years (2.5 billion allocated for the 2-2.5 offered), which fell to 1.71% from 2.17% last auction in July. in this case the redimento net of commission is 1.758%. Finally, the BTP 15 years has been placed for all the 2 billion offered, at the rate of 3.03% from 3.44% (net of commission rate is 3.06%). “Overall, the auction went well, and 7 and 15 years, the demand was higher than for three years, because investors are focusing more on long-term maturities than on short ones, lured by higher returns , “says the strategist Ing, Alessandro Giansanti. ============================= 12.30 ================== ========== BUND FUTURES December 148.55 (+0.17) BTP FUTURES December 129.89 (+0.35) BTP 2 YEARS (AGO 16) 106.316 (+0.005) 0.367% 10 year BTP (SET 24) 112.069 (+0.175) 2.394% BTP 30 YEARS (SET 44) 118.937 (+1.051) 3.734 % ========================= SPREAD (PB) ==================== LAST CLOSING ======= TREASURY / BUND 10 ANNI 153 152 BTP / Bund 2 YEARS 45  45 BTP / Bund 10 YEARS 140 141 level minimum / maximum from 138.6 to 142.1 from 133.8 to 140.1 BTP / BUND SPREAD BTP 30 ANNI 179 184 YEARS 202.7 10.2 204.0 134.0 137.2 SPREAD BTP 30/10 YEARS ===================== =========================================== – On site www.reuters. en other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia