BTP slightly higher but spreads over 150, the Treasury placed 6.5 billion Bot – Reuters Italy

BTP slightly higher but spreads over 150, the Treasury placed 6.5 billion Bot – Reuters Italy

       

 MILAN, November 12 (Reuters) – Maintains a positive tone as soon as the Italian bond market, on the morning that the Treasury has placed the planned 6.5 billion euro Bot 12 months. Offering a net negative – due to arrive Coupons 7.15 billion – the bot has been assigned to the yield of 0.335%, up from 0.301% auction a month ago, clocking up since July. At the end of the morning, on the gray market at Tradeweb, the bot trades at 0.354%. The ten-year rate is confirmed just over 2.30% share, which is the lowest level since the middle of last month. A slight weakness is found in the shortest route instead of the curve. Italian. The spread BTP / Bund, however, due to the positive performance of the German card, returns to enlarge slightly above 150 basis points yesterday after having fallen below the threshold for the first time since October 15th. “PUT DRAGONS” “There is a ‘Dragons put’ means measures taken by the ECB  are the least ambitious among those possible, but at the time sufficient to allow investors to focus on the research of returns rather than on the problems of each country” said a trader from London, which in this context also explains the renewed interest in recent sessions for the extra-long stretch of the Italian curve. “We saw it again today with the auction of German two years: the bid-to-cover was not tall, you are not certain courses to tear the title of hand,” he says. The new Schatz was awarded in December 2016 to 4.154 billion, the yield of -0.05%, with a bid-to-cover of 1.5, down from 1.7 the previous year. Portugal has also placed 1.2 billion to reopen the government in February 2024, the yield of 3.1766%, while Greece has allocated 1.138 billion of bonds to 3 months. TOMORROW’S AUCTIONS BTP placements half month continues tomorrow with the offer medium to long term: up to 6 billion total maturities of BTP 3, 7 and 15 years. It is a relatively  “light” compared with estimates indicating that on the eve of a maximum bid of at least 7 billion. By Bot auction today, the Treasury has completed about 86% of the amount estimated for this year. In the late morning the benchmark in three years in January 2018 on the exchange market yield of 0.80%, at mid October, the title was placed at 0.70%. The 7-year BTP exchanges in December 2021 to 1.77% from 1.71%, a record low in mid-October. Finally, 15 years in March 2030 in exchange area 3.01%, in line with the 3.03%, a record low, the last auction in mid-September. =========================== 12.45 ==================== ========== BUND FUTURES December 151.52 (+0.26) BTP FUTURES December 130.91 (+0.03) BTP 2 YEARS (AGO 16) 105.472 (-0.005) 0.540% 10 year BTP (SET 24) 112.604 (+0.035) 2.318% BTP 30 YEARS (SET 44) 119.696 (+0.251) 3.692 =========================% SPREAD (PB) ==================== ======= FINAL CLOSING THE TREASURY / BUND 10 ANNI 153 151 BTP / Bund 2 YEARS 50 59  BTP / Bund 10 YEARS 151 149 level minimum / maximum from 148.2 to 151.7 147.9 to 150.0 BTP / BUND 30 ANNI 200 198 BTP SPREAD 10/2 years 177.8 178.4 137.4 138.2 SPREAD BTP 30/10 YEARS ===================== =========================================== site www.reuters.it In other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia