Italy Gets Record Demand for Bond Offering Ahead of ECB Meet
- Investors bid over €130 billion for Italian 30-year debt
- ECB is expected to lower its deposit rate on Thursday
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Italy’s sale of new 30-year debt attracted over €130 billion ($143 billion) of orders as investors rushed to lock in the region’s highest yields before an expected interest-rate cut by the European Central Bank later this week.
The country’s Treasury is selling €8 billion of a bond maturing in October 2054, with pricing set at a spread of 13 basis points over comparable debt. The order book exceeds the previous record set in the immediate aftermath of the pandemic in 2020 when the European Central Bank was actively buying bonds to support the economy.