Italian auction results: Sold total of Eur 7.475 bln out of an indicated Eur 5.5-8bln of BTP’S

Break down as follows:

Sold Eur 3.574 bln of 4.75% May 2017 BTP’s, yield 5.39 %, cover 1.297

Sold Eur 2 bln of 5% March 2022 BTP’s, yield 6.08 % (vs 6.98%), cover 1.416 (vs 1.36)

Still waiting on details of the rest…

Not a bad take up but yields high still and EUR/USD still under the cosh

UPDATE:

Sold Eur 0.746 bln of off-the-run 3.75% 2016 BTP’s , yield 4.79%, cover 1.87

Sold Eur 1.16 bln of off-the-run 3.75% 2021 BTP’s , yield 5.74%, cover 1.50