Treasury auctions, falling interest rates, record low 3 years – Reuters Italy

MILAN (Reuters) – Success for the Italian Treasury auctions today where the performance of BTP three years fell to new record low of 0.11%.

In total the Treasury has placed a total of EUR 5.5 billion BTP on four dates from 2018 to 2040, compared to a fork offering between 4 and 5.5 billion.

In detail, the third tranche of the three-year benchmark October 2018 was assigned to 2 billion (on an offer of 1,5- 2000000000). The marginal yield fell to 0.11% dall0 0.25% of the previous auction, in mid-October. The coverage ratio is equal to 1.90 from 1.53 in mid-October.

The fifth tranche of seven years in September 2022 was placed for 2, 5 billion (on an offer of 2-2.5 billion), to yield 0.98%, down from the previous 1.24%, at least from April. Bid-to-cover of 1.53 to 1.86.

The Treasury has also awarded two off-the-run thirty years, the BTP in August 2039 and September 2040, respectively 553 and 447 million. The combined offer on the two stocks was between 500 million and one billion. The first was placed at yield of 2.64%, with a bid-to-cover of 1.93; the second 2.71%, bid-to-cover 2.34.

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