Home » Market chasing BTp: demand for 130 billion for the two Treasury issues

Market chasing BTp: demand for 130 billion for the two Treasury issues

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Strong demand for the dual tranche issue that the Treasury launched this morning for the new 50-year BTp benchmark expiring 01/03/2072 and the reopening of the 7-year BTp expiring 15/03/2028.

For the 7-year bond, demand stood at € 66 billion while the spread was cut to 9 basis points (from 12 starting points) on the yield of the September 2027 BTp maturity. For the new 50-year benchmark, the demand exceeded 64 billion euros while the spread was set at 47 basis points on the yield of the BTp maturing in January 2051 (from the initial 50 points). The operation was followed by a pool of banks consisting of Barclays, Bank of America, Jp Morgan, Societè Generale and UniCredit.

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Still on the subject of Government Bonds, the latest data relating to purchases by the European Central Bank came out in the afternoon: Frankfurt bought BTp for 20.50 billion euros over the last two months as part of the pandemic emergency purchase program (Pepp). In the two previous months, btp purchases had amounted to € 18.14 billion. The total number of Italian securities purchased under Pepp therefore rises to a total of 156.81 billion. In the same period, the ECB bought German bunds for 31.76 billion to 220.51, French bonds for 24.63 billion to 158.23 billion and Spanish Bonos for 14.38 billion to 104.22 billion.

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