Government bond yield · Italy
Italy 10-Year BTP Auction
The Italy 10-Year BTP Auction is the yield on Italy's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
- Importance
- Medium
- Released
- Monthly
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banca d'Italia)
Latest figures
The latest release, published on 29 October 2026, came in at 4.49%, down from 4.58% the time before.
Over the last 12 releases it ranged from 2.23% to 4.58%, averaging 3.71%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 29 Oct 2026 | – | 4.49% | – | 4.58% |
| 29 Sep 2026 | – | 4.58% | – | 4.10% |
| 28 Aug 2026 | – | 4.10% | – | 4.00% |
| 30 Jul 2026 | – | 4.00% | – | 3.63% |
| 26 Jun 2026 | – | 3.63% | – | 3.77% |
| 28 May 2026 | – | 3.77% | – | 4.09% |
| 27 Mar 2026 | – | 4.09% | – | 3.31% |
| 26 Feb 2026 | – | 3.31% | – | 3.44% |
| 29 Jan 2026 | – | 3.44% | – | 3.44% |
| 27 Nov 2025 | – | 3.44% | – | 3.46% |
| 30 Oct 2025 | – | 3.46% | – | 3.62% |
| 14 Oct 2025 | – | 2.23% | – | 3.62% |
Why it matters
Government yields are the base of every other interest rate. Short maturities follow the European Central Bank (with the Banca d'Italia)'s policy rate closely; long ones reflect expected growth, inflation and the risk of holding long debt. Higher yields relative to other countries attract capital and support the euro; the gap between long and short yields (the yield curve) is a classic recession signal when it turns negative.
How it is calculated
The yield is the interest rate that makes the present value of the bond's coupons and repayment equal to its price; on a calendar it often reports the average yield at a government auction.
Price = Σ coupon ÷ (1 + y)ᵗ + face ÷ (1 + y)ᵀ
Inflation-linked (TIPS) yield ≈ nominal yield − expected inflationWhat changes mean
- Yields rise when prices of bonds fall: strong data and hawkish central banks push yields up.
- An inverted curve (2-year above 10-year) has preceded most US recessions, with a lag of a year or more.
- Inflation-linked yields show the real (after-inflation) return.
A short history
Government bond markets go back to the Dutch and English debt of the 17th century; the US Treasury yield curve has been watched as a recession signal since research by Campbell Harvey in the 1980s.
Questions
What is the Italy 10-Year BTP Auction?
The Italy 10-Year BTP Auction is the yield on Italy's government debt of that maturity: the annual return an investor earns by buying the bond or bill at today's price and holding it to maturity.
What was the latest Italy 10-Year BTP Auction?
4.49%, published on 29 October 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.