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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.
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Free AccessNew 1.75% May-24 BTP Short Term
- On offer today: E3.5-4.0bln of the new 1.75% May-24 BTP Short Term (ISIN: IT0005499311)
- This morning, Italy will look to sell its new 23-month 1.75% May-24 BTP Short Term. This will be the first BTP Short Term with a non-zero coupon. Recall that the BTP Short Term replaced the zero-coupon CTZ. As we suspected may be the case, the BTPei auction has been cancelled this month due to the BTP Italia issuance.
- Recent BTP Short-Term bid-to-covers have been strong, but on falling auction sizes, with the May 26 auction of the most recent 0% Nov-23 BTP Short Term seeing a 1.89x bid-to-cover, compared to 1.41x at the late-January launch.
- Timing: Results will be available shortly after the auction closes at 1000 BST / 1100 CEST.
Similar past auctions:
The last BTP Short Term to be auctioned was the 0% Nov-23 BTP Short Term (ISIN: IT0005482309)
Date | Issued | Avg yield | Bid/cover | Price | Pre-auct | Operation |
Current | 1.245% | |||||
Last 5 ave | E2.75bln | 0.280% | 1.64x | |||
26-May-22 | E2.25bln | 0.770% | 1.89x | 98.86 | 98.85 | Auction |
26-Apr-22 | E2.75bln | 0.480% | 1.60x | 99.25 | 99.24 | Auction |
25-Mar-22 | E2bln | 0.140% | 1.73x | 99.77 | 99.75 | Auction |
23-Feb-22 | E3bln | 0.140% | 1.58x | 99.75 | 99.74 | Auction |
26-Jan-22 | E3.75bln | -0.130% | 1.41x | 100.24 | New | Auction |
To read the full story
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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.