ITALY AUCTION RESULTS: Solid Bid-to-covers On 5-year Lines Due To Smaller Size
Jun-27 09:18
Looks like a solid set of bid-to-covers for the 5-year lines (1.79x and 1.80x), but that's likely down to the smaller-than-usual E1.5bln auction sizes.
- The 2.95% Jul-30 BTP had averaged a 1.54x bid-to-cover ratio across four auctions since February, but for amounts issued between E3.00-E3.75bln.
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GREECE T-BILL AUCTION RESULTS: 26-Week GTB
May-28 09:13
| Type | 26-week GTB |
| Maturity | Nov 28, 2025 |
| Amount | E500mln |
| Target | E500mln |
| Previous | E500mln |
| Avg yield | 1.74% |
| Previous | 1.90% |
| Bid-to-cover | 1.91x |
| Previous | 2.03x |
| Previous date | Apr 23, 2025 |
EQUITIES: EU Bank and Unicredit Charts
May-28 09:09
- While the Banking sector might not be the top performer, the SX7E continues to be closely watched.
The report that Unicredit was boosting its stake in the Greek Alpha Bank has provided an healthy upside impetus so far Today. - SX7E would see the initial resistance at 205.51, this was May's high printed on the 20th May, which was also its best print since August 2010.
- Above this level would Open to 217.62, the 38.2% retrace of the whole 2007/2020 range.
- Unicredit traded as high as 58.38 on the 21st May, but the big resistance would be seen at 66.8366, the 2011 high.
(Chart source: MNI/Bloomberg).
ITALY T-BILL AUCTION RESULTS: 6-month BOT
May-28 09:06
| Type | 6-month BOT |
| Maturity | Nov 28, 2025 |
| Amount | E6.5bln |
| Target | E6.5bln |
| Previous | E2bln |
| Avg yield | 1.981% |
| Previous | 2.069% |
| Bid-to-cover | 1.46x |
| Previous | 1.78x |
| Previous date | Apr 28, 2025 |
