Government bond auction · Italy
Italy 5-Year BTP€i Auction
The Italy 5-Year BTP€i Auction is a sale of new government debt by Italy's treasury or debt agency to investors.
- Importance
- Low
- Released
- Quarterly
- Currency
- EUR · euro
- Central bank
- The European Central Bank (with the Banca d'Italia)
Latest figures
The latest release, published on 24 September 2026, came in at 1.57%, up from 0.89% the time before.
Over the last 11 releases it ranged from 0.84% to 1.57%, averaging 1.09%.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 24 Sep 2026 | – | 1.57% | – | 0.89% |
| 26 May 2026 | – | 0.89% | – | 0.97% |
| 25 Mar 2026 | – | 0.97% | – | 0.84% |
| 24 Feb 2026 | – | 0.84% | – | 0.94% |
| 27 Jan 2026 | – | 0.94% | – | 1.08% |
| 25 Nov 2025 | – | 1.08% | – | 1.17% |
| 24 Sep 2025 | – | 1.17% | – | 1.13% |
| 24 Jul 2025 | – | 1.13% | – | 1.21% |
| 25 Jun 2025 | – | 1.21% | – | – |
| 26 Mar 2025 | – | 1.02% | – | – |
| 28 Jan 2025 | – | 1.17% | – | 1.16% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the Italy 5-Year BTP€i Auction?
The Italy 5-Year BTP€i Auction is a sale of new government debt by Italy's treasury or debt agency to investors.
What was the latest Italy 5-Year BTP€i Auction?
1.57%, published on 24 September 2026.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.