The Bank of Italy published updated financial market statistics showing that resident sectors recorded net bond redemptions of EUR 15.6 billion in August, while benchmark Italian government bond yields rose across maturities in September. General government accounted for EUR 12.9 billion of the net redemptions, and banks recorded EUR 2.3 billion. Net BTP redemptions of EUR 19.8 billion drove the government result, partly offset by net issuance of EUR 4.6 billion in Treasury bills and EUR 2.3 billion in floating rate Treasury credit certificates. In September, average gross yields to maturity increased by 41 basis points to 3.56% for three-year BTPs, 37 basis points to 4.36% for 10-year BTPs and 23 basis points to 5.01% for 30-year BTPs. The benchmark floating rate Treasury credit certificate yield rose 7 basis points to 3.34%.
Bank of Italy reports EUR 15.6 billion in August net bond redemptions and higher September BTP yields
The Bank of Italy reported EUR 15.6 billion in net bond redemptions by resident sectors in August, led by EUR 12.9 billion from general government. In September, benchmark BTP yields rose to 3.56% for three-year debt, 4.36% for 10-year debt and 5.01% for 30-year debt.