Published by Global Banking & Finance Review®
Posted on December 12, 2024
1 min readLast updated: January 27, 2026
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Italy's borrowing costs fell to a 29-month low at an auction as markets anticipate an ECB rate cut. The Treasury sold 8.5 billion euros in bonds.
MILAN (Reuters) - Italy's borrowing costs fell, touching their lowest level since July 2022, at a Thursday auction as markets were bracing for a 25 basis points rate cut from the European Central Bank (ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB).
The Treasury sold the planned maximum amount of 8.5 billion euros ($8.95 billion) in four bonds.
The Rome-based Treasury sold 3 billion euros of a three-year BTP bond, fetching a 2.35% gross yield, its lowest level since July 2022, compared with 2.73% in mid-November.
It assigned 3 billion euros in a BTP bond maturing November 15, 2031, at a 2.92% gross yield, down from 3.19% mid-October. It was again the lowest level since July 2022.
The Treasury sold 1 billion euros in a 30-year BTP bond touching a 3.94% gross yield, down from 5.05% in mid-November 2023. It was the lowest level since April 2022.
It also assigned 1.5 billion euros in an off-the-run 15-year BTP note, with a 3.19% yield.
($1 = 0.9500 euros)
(Reporting by Sara Rossi, editing by Alvise Armellini)
The article discusses the decline in Italian borrowing costs at a recent auction, reaching the lowest levels since July 2022, ahead of an expected ECB rate cut.
The Italian Treasury sold 8.5 billion euros in bonds, including a three-year BTP bond, a bond maturing in 2031, a 30-year BTP bond, and a 15-year BTP note.
Italian borrowing costs are significant as they reflect investor confidence and economic conditions, influencing financial markets and policy decisions.
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