CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

3/7/15-year BTPs

ITALY AUCTION PREVIEW
MNI (London)

Italy will come to the market today to reopen a total of E6.25-7.75bln of 3/7/15-year on-the-run BTPs.

  • On offer will be:
    • E2.5-2.75bln of the 0% Dec-24 BTP. ISIN: IT0005474330.
    • E2.5-3.0bln of the 0.45% Feb-29 BTP. ISIN: IT0005467482.
    • E1.25-2.0bln of the 0.95% Mar-37 BTP. ISIN: IT0005433195.
  • Auction history:
  • This will be the third reopening of the 0% Dec-24 BTP, which was launched via auction on December 14, 2021, replacing the 0% Aug-24 BTP (ISIN: IT0005452989) as the on-the-run issue. The launch saw E3.5bln issued at an average yield of -0.100%, resulting in a bid-to-cover of 1.21x. The 3-year BTP has been reopened twice, on January 13 and February 11 this year. The initial January reopening saw E3.5bln issued at an average yield of 0.140% and 1.38x bid-to-cover. The February auction was slightly smaller, issuing E3.0bln for an average yield of 0.690% and bid-to-cover of 1.38x.
  • Today will be the third reopening of the 0.45% Feb-29 BTP. This BTP was launched at auction on November 11, 2021 for E3.75bln, resulting in a yield of 0.600% at a bid-to-cover of 1.37x. The two reopenings of the 7-year BTP were on January 13 and February 11, with auction sizes of E3.5bln and E3.0bln. The January auction saw an average yield of 0.890% and bid-to-cover of 1.51x, whilst the February reopening saw a larger average yield of 1.520% and 1.46x bid-to-cover.
  • The 15-year 0.95% Mar-37 BTP was launched via syndication in January 2021 with E10.0bln sold with a book size of over E105bln. It was then reopened on April 13 for E2.0bln with an average yield of 1.260% and bid-to-cover of 1.47x. The second and most recent reopening was on July 13 last year, where E1.75bln was issued at an average yield of 1.190% and 1.54x bid-to-cover.
  • Timing: Results are due shortly after the auction closes at 10:00 GMT / 11:00 CET.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.