One is made of lime, the other is made of sand. While 3-month Treasury bill rates decreased, 9-month Treasury bill rates increased. It is the result of the auction held today. 2,313.26 million euros, Within the range provided by the public agency for short-term loans. Demand from investors, especially from individuals who continue to be interested in these assets lower fees on bank depositsexceeded 5.6 billion euros more than twice the amount given.
In response to a total demand of 2,231.40 million euros, 550.25 million 3-month invoices were printed this Tuesday. A. interest marginal 3,490%Compared to 3.535% in last month’s auction, which was the highest interest rate since November 2011.
According to data from the Public Treasury, the bid for nine months of invoices closed at 1,763.01 million euros, compared to the demand of more than 3 billion 400 million euros. Marginal interest was determined as 3.737%, It’s above last month’s 3,700%, but still a long way from last July’s 3,810%, when securities born in February 2013 achieved record profitability for the period.
Investors are waiting for the decision of the European Central BankECB) has to make a new decision on interest rates, which are 4.25% this Thursday. What causes this trend Snowballing private demand for short-term public debt (up to one year), although it is gradually improving, it remains more attractive than the deposit fees of the big banks.
This is also what causes things to escalate. euriborAlthough the main reference for variable rate mortgages is starting to moderate, given the perspective that the increase in the official price of money is approaching its end. In any case, the development of inflation, especially its most structural type ( underlyingAccording to experts, the interest rate (which excludes the most volatile items such as energy and unprocessed food) is still too high, which could prolong the duration of interest rate increases.
Following the 3 and 9-month bond auctions held this Tuesday, the Treasury will return to the market with the bond and liability auction that will close this month on the 21st. The gross Treasury issuance planned for this year is 256 billion 930 million euros, which is 8.2% more than 2022.
The Treasury’s net debt, which is the result of the difference between what is issued and what is redeemed, will remain at 70 billion euros. While the bonds are expected to remain 5,000 million TL in total, bonds and liabilities, medium and long-term securities; In addition to the remaining debts, contributions in euros and foreign currency remained a net total of 75 million.
Source: Informacion
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