BTPs: 2.5 billion in three-year bonds allocated; yield falls by 5 cent to 2.98 per cent

The new 7-year benchmark BTp has been issued at 3.50 per cent

(Il Sole 24 Ore Radiocor) - Yields fell on the BTp bonds offered at today’s Treasury auction. Specifically, the third tranche of the three-year BTp maturing on 15/09/2029 was placed for an amount of 2.5 billion, against bids totalling 3.933 billion. The bid-to-cover ratio stood at 1.57, whilst the gross yield, down by 5 centesimi on the previous auction, stood at 2.98 per cent. The first tranche of the new seven-year benchmark BTp maturing on 15/09/2033 was also issued. The bond was placed for 3.5 billion against demand of 5.459 billion, with a bid-to-cover ratio of 1.56. The yield fell by 5 centesimi compared with last month’s auction, settling at 3.50%. Finally, the Treasury issued the fourth tranche of the 15-year BTp maturing on 1 October 2041, worth 1.75 billion. Demand stood at 2.608 billion. The yield stood at 4.23 per cent. The settlement date for the issues is 15 July.

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