|
International investors continue to be quite interested in Italian government bonds. The 15-year BTP's success demonstrates this. The offering generated a demand of almost 133 billion euros, more than 10 times the Treasury's 13 billion offer. This outcome is in addition to the record of over 140 billion that was achieved just over a month ago with the ten-year bond and serves as confirmation of the robustness of demand. After all, the high yields compared to other Eurozone countries, as well as the stability of the Meloni executive, are appealing in comparison to the weaknesses of France and Germany, which have a weak French government and a German one in economic crisis, with political elections just around the corner. It should be noted that foreign demand played an important part in this operation, with investors accounting for three-quarters of the requests for the MEF's ten-year bond issued last month. For the new 15-year benchmark bond, the placement was carried out with an issuance yield of 3.942%, seven basis points higher than the October 2039 BTP, which has a comparable maturity.
|