Free Trial

The Italian............>

ITALY T-BILL AUCTION PREVIEW
ITALY T-BILL AUCTION PREVIEW: The Italian Dipartimento Del Tesoro issue a new
6-month Jan 31, 2018 BOT for E6.5bln on Thursday. 
- RV: The mid-yield on the old 6-month Dec 29, 2017 BOT is currently seen at
-0.406%, towards the bottom end of its 1-month range of between -0.35% to
-0.425%. As for the new Jan 31, 2018 BOT the grey market is indicating a
mid-yield of around -0.352%, representing a 5.4bps discount to the old 6-month
BOT, which looks cheap. 
- HISTORY: For comparison, at the last 6-month auction on Jun 28, the finance
ministry sold E6.75bln at an average yield of -0.372% and bid-to-cover of 1.54
times. Prior to this on May 29, E6bln was sold at an average yield of -0.358%
and cover of 1.83 times. 
- REDEMPTION: There will be a BOT redemption on Jul 31 totalling E6.5bln,
leaving net cash flow flat which is seen underpinning demand. 
- TIMING: Results are due to be announced at around 0905GMT.

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.