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Decent 5/10-year BTP auction

ITALY AUCTION PREVIEW
  • The results of the Italy auction are decent with the auction price above the pre-auction mid for all the BTPs/CCTeu on offer today (albeit the mid-price dipped just ahead of the auction closing time).
  • For the one-the-run 5/10-year BTPs, the volume sold today was higher than last month but the bid-to-cover was largely unchanged.

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