Free Trial

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

ITALY T-BILL AUCTION PREVIEW
ITALY T-BILL AUCTION PREVIEW: The Italian Dipartimento Del Tesoro sells new
12-month Oct 14, 2019 BOT for E6bln on Wednesday.
- RV/HISTORY: For comparison, the last auction of a 12-month BOT was the Sep 12,
2019 which was sold at an average yield of 0.436% and a bid-to-cover ratio of
1.91x. The yield on that bill has doubled since last Thursday amid Italian
budget concerns, rising above 1.00%, last at 0.88%. The Oct 29 currently holds a
grey market bid/aslk yield of 0.899%/1.023% (mid: 0.961%) according to Tradeweb,
129.9bps outside equivalent EUR swap. 
- REDEMPTIONS: Maturing bills from Italy in the amount of this sale (E6bln) is
seen underpinning the re-opening.
- TIMING: Results are due shortly after bidding finishes at 0905GMT

To read the full story

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.