Portugal returns to the markets on Wednesday to auction up to €1.5 billion in six- and 12-month treasury bills, as announced by the country’s Treasury and Debt Management Agency (IGCP).
According to the entity led by Cristina Casalinho, the two auctions have a global indicative amount between €1.25 billion and €1.5 billion.
In the last comparable auction, on 15 May, Portugal placed €1 billion euros in treasury bills at 12 months at the average yield of -0.370%, again negative and lower than 20 March, when they placed €1.1 billion at the average yield of -0.366%.
At six months €500 million were placed on that day at the average rate of -0.396%, more negative than on 20 March, when €400 million were placed at -0.393%.
In the third quarter, which began at the beginning of the month, the agency predicted treasury bonds a through the combination of operations syndicated by banks and auctions, anticipating issuing between €1 billion and €1.25 billion per auction.
The agency also anticipated three double treasury bills auctions in three- and 12-month yields, with a total amount between €3.25 billion and €4 billion.
