By Laura Contemori – ROME (Econostream) - Agence France Trésor (AFT) issued a total of €8.045 billion of fixed-rate discount Treasury bills (BTFs) on Monday across four maturities, with demand about 3.5 times the amount served.
AFT allotted €550 million of 11-week BTFs maturing 15 July 2026, €3.299 billion of 14-week BTFs maturing 5 August 2026, €2.096 billion of 25-week bills maturing 21 October 2026, and €2.100 billion of 51-week bills maturing 21 April 2027.
Total bids reached €28.313 billion versus €8.045 billion allotted, for an aggregate bid-to-cover ratio of about 3.52.
The 11-week BTF cleared at a weighted average yield of 2.132% and a marginal rate of 2.135%, with a bid-to-cover ratio of 7.47. The full amount was allotted at the marginal rate.
The 14-week BTF cleared at a weighted average yield of 2.192% and a marginal rate of 2.195%, with a bid-to-cover ratio of 3.45. Some 77.18% of the amount was allotted at the marginal rate.
The 25-week BTF cleared at a weighted average yield of 2.342% and a marginal rate of 2.345%, with a bid-to-cover ratio of 3.36. A total of 75.24% was allotted at the marginal rate.
The 51-week BTF cleared at a weighted average yield of 2.551% and a marginal rate of 2.555%, with a bid-to-cover ratio of 2.76. The share allotted at the marginal rate was 71.56%.
Settlement for all four lines was scheduled for 29 April 2026.
