2023-10-03 12:18:52
The profitability of Treasury bills at six and 12 months. In this Tuesday’s auction, the Treasury has placed 4,572 million euros of this short-term debt and with a profitability that has skyrocketed above 3.8%. This evolution, which once again places the interest in these titles at the levels of July 2012, is in line with the rise in interest rates in July by the European Central Bank (ECB), now at 4.50%, the highest level since May 2001.
The combined demand for both types of securities has exceeded 9,000 million, which reflects investment appetite for the letters. It is a trend that is especially noticeable among the homes which have gone in the last year from having 25 million euros in July 2022 in Treasury bills to 18,523 million in July 2023, as profitability has increased.
After some setback in the latest tenders, the interest in these assets is rising again and there are already those who wonder again if they will reach the 4% threshold.
In this Tuesday’s auction, the Treasury has placed 1,037.64 million euros in six-month bills, compared to a demand of 2,818.01 million euros, and has offered a marginal profitability of 3.830%, above 3.679% of the previous broadcast and reaching its level highest since July 2012.
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In the 12-month bills, the body dependent on the Ministry of Economic Affairs has awarded 3,535.20 million euros, with requests of 6,340.45 million from investors, and the marginal interest has been placed at 3.876%, from the previous 3.680% and reaching your level highest also since July 2012.
Individual investors are showing great interest in purchasing debt, mainly in the short term, given its high comparative profitability with that of the deposits of the large banks. The rise in the price of money has not only pushed up the profitability of Treasury bills but has also made the one-year Euribor, the main reference in mortgage loans, more expensive.
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