The month of December begins, like every month of the year, with a new auction of Treasury Bills. As usual, this is a six and twelve month auction, coinciding with the weekly monthly amortization date.
Treasury Bills are fixed income securities that do not pay periodic interest and their profitability is calculated as the difference between the acquisition price and the face value or amortization price of the bill.
The last Treasury Bill auction took place on November 12. On that occasion it was an auction of the Letters for three and nine months. The Public Treasury placed 1,840 million euros in this auction and reduced the profitability offered to investors.
The auctions are carried out according to a calendar already set by the Public Treasury.
Next auction of six and twelve month Treasury Bills
The profitability of Treasury Bills at six and twelve months
The last auction of six- and twelve-month Treasury Bills was held on November 5. The returns obtained then are those that serve as a reference.
The Treasury raised 4,956.85 million with a marginal rate of 2.882% in Six-month Letters compared to 2.919% the previous month. In Twelve month letters obtained marginal interest in November 2.631% compared to 2.598% in the October auction.
To invest in Treasury Bills, the minimum request is 1,000 euros and higher requests must be multiples of that amount. The Public Treasury’s strategy for 2024 foresees financing needs of 55,000 million euros.
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