Italy’s sold Eur 2.5 bln of 4.75% May 2017 BTP’s, cover 1.41 (vs 1,3.) , yield 4.19% (vs 5.39%) out of a target Eur 2-2.5bln
Sold Eur 3.75 bln of new 10yr 5.50% benchmark Sep 2022 BTP’s, cover 1.4 (vs 1.42) , yield 5.5 % (from 6.08%) out of target Eur 3.375 bln
A strong auction as expected with improved yields and a full take up. Euro’s steady around 1.3435/40
Next up Belgium in about 20 mins…. if anyone’s interested!
