News

Italy’s borrowing costs soar at BTP auction, touch 21-month high

© Reuters. FILE PHOTO: One Euro coins are seen in this illustration taken, November 9, 2021. REUTERS/Dado Ruvic/Illustration

MILAN (Reuters) – Italian cost of funding climbed further, reaching the highest since May 2020 at an auction on Friday, as investors seek clues on how soon the European Central Bank might hike interest rates.

Rome sold the top planned amount of 7.75 billion euros ($8.87 billion) over three BTP bonds.

The Treasury sold 3 billion euros of a BTP maturing on December 15, 2024 at a 0.69% gross yield – a 21-month record – from 0.14% at the previous auction.

It also placed 3 billion euros of a BTP due on February 15, 2029 fetching a 1.52% gross yield – another 21-month peak – compared to 0.89% in mid-January.

A 20-year BTP due in March 2041 was sold for 1.75 billion euros at a 2.30% gross yield

($1 = 0.8740 euros)

Italy’s borrowing costs soar at BTP auction, touch 21-month high

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published.

More in:News