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2025-10-30 18:10:03
[Strong Demand for Italian Government Bonds Leads to Overall Downward Shift in Yield Curve] ⑴ Italy successfully issued €3 billion in 2031-maturity bonds with a total yield of 2.75%, down 19 basis points from the previous issuance. ⑵ €4.5 billion in 2036-maturity bonds were issued concurrently, with a total yield of 3.46%, down 16 basis points from the previous issuance. ⑶ The bid coverage ratio for the 2031-maturity bonds was 1.59 times, while that for the 2036-maturity bonds was 1.47 times, indicating a divergence in market demand. ⑷ €1 billion in 2031-maturity floating-rate bonds were also issued, with a yield of 2.64%. ⑸ €1 billion in 2032-maturity floating-rate bonds were also issued concurrently, with a yield of 2.69%. ⑹ Demand for floating-rate bonds was significantly strong, with bid coverage ratios for the two bonds reaching 2.17 times and 2.15 times, respectively. ⑺ Yields for all maturities declined significantly compared to the previous issuance, reflecting a stronger market preference for Eurozone bonds. (8) The differences in bidding between fixed-rate and floating-rate bonds reflect investors’ different expectations of interest rate trends.
