Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
ITALY T-BILL AUCTION PREVIEW: The Italian Dipartimento Del Tesoro issue a new
12-month Aug 14, 2018 BOT for E6.5bln on Monday.
- RV: The mid-yield on the current 12-month Jul 13, 2018 BOT is currently seen
at -0.347%, in the middle of its mid July to mid Aug range of between -0.358%
seen on Jul 10 and -0.34% seen on Jul 13. As for the new Aug 14, 2018 BOT the
grey market is indicating a mid-yield of around -0.331%, representing a pick up
of 1.6bps versus the old 12-month BOT.
- HISTORY: For comparison, at the last 12-month auction on Jun 12, the finance
ministry sold E6.75bln at an average yield of -0.352% and bid-to-cover of 1.65
times. Generally, a good bid-cover is 1.75, a low one is 1.6. Usually, August
auctions do better than average.
- REDEMPTION: There will be a BOT redemption on Aug 14 totalling E6.6bln,
leaving net cash flow positive to the tune of E100mln, slightly helping demand.
- TIMING: Results are due to be announced at around 0905GMT.