On April 28, a total of 4 billion in Treasury bills will be auctioned. The Ministry of Economy and Finance (Mef) announced this. The offerings include a 6-month bill (2 billion) and a 12-month bill (also 2 billion). For the 12-month bills, it is a reopening, with bonds having a remaining life of 4 months. The 6-month bills are also a reopening, with a remaining life of 5 months. In this phase of market uncertainty, the so-called short-term demand might have greater appeal. These issues could enjoy unusually favorable conditions: they can become an alternative (especially for those with a lower risk appetite) compared to the volatile stock markets; they could benefit from a positive trend in yields after the latest rate cut by the ECB, not to mention that Italian debt is also attracting interest from Chinese investors, given the uncertainties surrounding the American debt and the dollar. Also yesterday, the Mef announced that in tomorrow’s auction, the Treasury will offer up to 3 billion euros in BTp Short Term: the seventh tranche maturing on 25/02/2027 will be offered, while the settlement date for the issues falls on April 29. Meanwhile, in the last session, the spread between 10-year BTPs and Bunds fell to 116.6 points, compared to 118 on Friday. The yield on our 10-year bond is at 3.6%, also stabilized by S&P’s upgrade (from BBB to BBB+) of the Italian rating.
© ALL RIGHTS RESERVED
This article is automatically translated