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Italy EUR

Italy 10-Year BTP Auction

Info

History

Chart

Impact:

Low

Source: Dipartimento del Tesoro

Latest Release:

Date:

Actual:

3.44%

Forecast:

Previous/Revision:

3.46%

Period:

What Does It Measure?

The Italy 10-Year BTP Auction measures the government's ability to raise funds through the issuance of benchmark 10-year bonds, focusing primarily on the level of demand from investors and the yield that the Italian government must offer to attract buyers. This auction assesses key indicators such as interest rates, investor sentiment towards Italian debt, and the overall health of the Italian economy, serving as a national indicator.

Frequency

BTP Auctions occur regularly, typically on a monthly basis, and the results are released promptly following the auction, providing final figures that are crucial for market participants.

Why Do Traders Care?

Traders closely monitor the outcomes of the BTP Auction as they reflect investor sentiment and willingness to lend to the Italian government at a certain yield, impacting the broader eurozone bond market. The auction results influence the euro's exchange rate and can affect the performance of Italian equities, making it a vital gauge for assessing both fiscal stability and market confidence.

What Is It Derived From?

The auction results are derived from a competitive bidding process involving institutional and individual investors, where various bids are submitted based on the desired yield and volume of bonds. The resulting auction yield is determined based on the highest accepted bid, which establishes the interest rate for the bonds issued.

Description

Preliminary auction results show initial bidder demand and yields that may later be revised, though final results provide a clearer picture of market conditions. The auction process looks for a balance between borrowing cost for the government and investor appetite, making it a barometer of fiscal health and market trust, particularly amid economic uncertainty.

Additional Notes

This auction is a crucial coincident economic measure that complements other bond market indicators and gives insight into the broader European fiscal landscape. The results can indicate trends in investor confidence and have lasting implications on monetary policy discussions within the European Central Bank.

Bullish or Bearish for Currency and Stocks

Higher than expected demand in the BTP Auction is bullish for the euro and bullish for Italian stocks, as it signals confidence in Italian fiscal policy and economic stability. Lower than expected demand may have the opposite effect, leading to bearish sentiment for both the currency and stocks due to concerns over debt sustainability and economic outlook.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Previous
Nov 27, 2025	3.44%	3.46%
Oct 30, 2025	3.46%	3.62%
Oct 14, 2025	2.23%	3.62%
Sep 26, 2025	3.62%	3.58%
Aug 28, 2025	3.58%	3.52%
Jul 30, 2025	3.52%	3.48%
Jun 27, 2025	3.48%	3.57%
May 29, 2025	3.57%	3.62%
Apr 29, 2025	3.62%	3.34%
Apr 11, 2025	3.34%	3.83%
Mar 28, 2025	3.83%	3.55%
Feb 27, 2025	3.55%	3.6%
Jan 30, 2025	3.6%	3.39%
Nov 28, 2024	3.39%	3.57%
Nov 13, 2024	3.37%	3.57%
Oct 30, 2024	3.57%	3.43%
Sep 27, 2024	3.43%	3.68%
Aug 29, 2024	3.68%	3.76%
Jul 30, 2024	3.76%	3.51%
Jul 11, 2024	3.51%	4.01%
Jun 27, 2024	4.01%	3.97%
May 30, 2024	3.97%	3.86%
Apr 29, 2024	3.86%	3.67%
Mar 27, 2024	3.67%	3.91%
Feb 28, 2024	3.91%	3.69%
Jan 30, 2024	3.69%	4.17%
Dec 28, 2023
Nov 29, 2023	4.17%	4.76%
Oct 31, 2023	4.76%	4.93%
Sep 28, 2023	4.93%	4.24%
Aug 30, 2023	4.2%	4.1%
Jul 27, 2023	4.1%	4.13%
Jun 30, 2023	4.13%	4.32%
May 30, 2023	4.32%	4.42%
Apr 27, 2023	4.42%	4.12%
Mar 30, 2023	4.12%	4.34%
Feb 24, 2023	4.34%	4.28%
Jan 31, 2023	4.28%	3.96%
Nov 29, 2022	3.96%	4.24%
Oct 28, 2022	4.24%	4.7%
Sep 29, 2022	4.7%	3.76%
Aug 30, 2022	3.76%	3.46%
Jul 28, 2022	3.46%	3.47%
Jun 30, 2022	3.47%	3.1%
May 31, 2022	3.1%	2.78%
Apr 29, 2022	2.78%	2.04%
Apr 13, 2022	2.04%	2.14%
Mar 30, 2022	2.14%	1.81%
Feb 25, 2022	1.81%	1.39%
Jan 28, 2022	1.39%	1.02%
Nov 30, 2021	1.02%	1.05%
Oct 28, 2021	1.05%	0.86%
Sep 29, 2021	0.86%	0.67%
Aug 31, 2021	0.67%	0.66%
Jul 29, 2021	0.66%	0.81%
Jun 30, 2021	0.81%	0.94%
May 28, 2021	0.94%	0.88%
Apr 29, 2021	0.88%	0.72%
Mar 30, 2021	0.72%	0.65%
Jan 28, 2021	0.65%	0.59%
Nov 27, 2020	0.59%	0.79%
Oct 29, 2020	0.79%	0.89%
Sep 29, 2020	0.89%	1.11%
Aug 28, 2020	1.11%	1.04%
Jul 30, 2020	1.04%	1.2%
Jun 30, 2020	1.2%	1.42%
May 29, 2020	1.42%	1.78%
Apr 29, 2020	1.78%	1.48%
Mar 31, 2020	1.48%	1.29%
Mar 12, 2020	1.29%	1%
Feb 27, 2020	1%	0.94%
Jan 30, 2020	0.94%	1.35%
Dec 30, 2019	1.35%	1.29%
Nov 28, 2019	1.29%	1.06%
Oct 30, 2019	1.06%	0.88%
Sep 27, 2019	0.88%	0.96%
Aug 29, 2019	0.96%	1.56%
Jul 30, 2019	1.56%	2.09%
Jun 27, 2019	2.09%	2.6%
May 30, 2019	2.6%	2.59%
Apr 30, 2019	2.59%	2.61%
Mar 28, 2019	2.61%	2.81%
Feb 27, 2019	2.81%	2.6%
Jan 30, 2019	2.6%	2.7%
Dec 28, 2018	2.7%	3.24%
Nov 29, 2018	3.24%	3.36%
Oct 30, 2018	3.36%	2.9%
Sep 27, 2018	2.9%	3.25%
Aug 30, 2018	3.25%	2.87%
Jul 30, 2018	2.87%	2.77%
Jun 28, 2018	2.77%	3%
May 30, 2018	3%	1.7%
Apr 27, 2018	1.7%	1.83%
Mar 28, 2018	1.83%	2.06%
Feb 27, 2018	2.06%	2.06%
Jan 30, 2018	2.06%	1.86%
Dec 28, 2017	1.86%	1.73%
Nov 29, 2017	1.73%	1.86%
Oct 30, 2017	1.86%	2.19%
Sep 28, 2017	2.19%	2.09%
Aug 30, 2017	2.09%	2.16%
Jul 28, 2017	2.16%	2.16%
Jun 30, 2017	2.16%	2.15%
May 30, 2017	2.15%	2.29%
Apr 27, 2017	2.29%	2.25%
Mar 30, 2017	2.25%	2.28%
Feb 27, 2017	2.28%	2.37%
Jan 30, 2017	2.37%	1.77%
Dec 29, 2016	1.77%	1.97%
Nov 29, 2016	1.97%	1.6%
Oct 28, 2016	1.6%	1.21%
Sep 29, 2016	1.21%	1.14%
Aug 30, 2016	1.14%	1.24%
Jul 28, 2016	1.24%	1.35%
Jun 30, 2016	1.35%	1.51%
May 30, 2016	1.51%	1.51%
Apr 28, 2016	1.51%	1.24%
Mar 30, 2016	1.24%	1.5%
Feb 26, 2016	1.5%	1.44%
Jan 28, 2016	1.44%	1.59%
Dec 30, 2015	1.59%	1.36%