Trial now
MNI EXCLUSIVE

Prospects For Major Shake-Up Of Italy's Tax System

On Tuesday the.........>

ITALY T-BILL AUCTION PREVIEW
ITALY T-BILL AUCTION PREVIEW: On Tuesday the Dipartimento del Tesoro will come
to market for E6.5bln selling the new 12-month Feb 14 2020 BOT. 
- HISTORY: For comparative purposes, the last auction for the bill is below:
12-month BOT: average yield 0.29%, cover 1.54x, on 10/01/19.  
- BACKGROUND: Italian BTPs rallied on Monday as banking sector gains in the FTSE
MIB helped to add to the general risk-on tone across markets early this week. 
At the time of writing the Dec 13 2019 BOT is trading at a yield of 0.15%, down
4bps on Monday but up 14bps since Jan 31.   
The Euribor strip saw smaller moves in the front end on Monday, Whites unchanged
on the day, Reds flat to 1 ticks lower, Greens 1.5-2.5 ticks lower and Blues
2.5-3 ticks lower.
- TIMING: Results will be due shortly after the auction has close at 1000GMT.