EUROS

摘要

What was a busy week for sovereign supply began with Italy's taps of three-, seven-, 17-and 31-year BTPs, where it sold a total of €7.342bn across the four issues on offer, the top of the expected €5.25bn-€7.5bn range. The three-year attracted a cover of 1.49:1 on a fill of €2.483bn, with the seven-year cover at 1.47 on a fill of €1.985bn. The 17-year printed with a 1.32 cover on a €1.5bn fill and the September 2046s with a 1.31 cover on a €1.374bn fill. The average yield on the threes was 0.48%, 5bp through the offered side as the bids went in. The sevens came at 1.60%, also around 4.5bp through; the 17-year at 2.63%, 1.5bp through; and the long bond at 3.24%, 2bp through.