Government bond yield · Italy
Italy 5-Year BTP Auction
The Italy 5-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.
- Важность
- Low
- Опубликовано
- Monthly
- Валюта
- EUR · euro
- Центральный банк
- The European Central Bank (with the Banca d'Italia)
Последние данные
Последняя публикация вышла 2026-10-29; значение: 4.02%. Это ниже, чем 4.08% в прошлый раз.
За последние 12 публикаций значение колебалось от 2.62% до 4.08%, в среднем 3.24%.
| Опубликовано | Для | Факт | Консенсус | Предыдущее |
|---|---|---|---|---|
| 29 Oct 2026 | – | 4.02% | – | 4.08% |
| 29 Sep 2026 | – | 4.08% | – | 3.44% |
| 28 Aug 2026 | – | 3.44% | – | 3.39% |
| 30 Jul 2026 | – | 3.39% | – | 3.03% |
| 26 Jun 2026 | – | 3.03% | – | 3.16% |
| 28 May 2026 | – | 3.16% | – | 3.32% |
| 29 Apr 2026 | – | 3.32% | – | 3.48% |
| 27 Mar 2026 | – | 3.48% | – | 2.62% |
| 26 Feb 2026 | – | 2.62% | – | 2.74% |
| 29 Jan 2026 | – | 2.74% | – | 2.87% |
| 11 Dec 2025 | – | 2.87% | – | 2.74% |
| 27 Nov 2025 | – | 2.74% | – | 2.75% |
Почему это важно
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.
Как считается
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 inflationЧто означают изменения
- 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.
Краткая история
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.
Вопросы
What is the Italy 5-Year BTP Auction?
The Italy 5-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 5-Year BTP Auction?
4.02%, published on 29 October 2026.
Только образовательный материал, не инвестиционная рекомендация. Цифры — опубликованные результаты в том виде, в каком их записал наш календарь; описанные реакции рынка типичны, но не гарантированы.