Daily Bond Auction Preview - 28th August 2026

Previews of UK, EU and US government bond auctions including the size of issuance, time of the auction(s), estimates, redemptions, coupons and analyst commentary. Italy to sell EUR 5.75-7bln 3.15% 2031, 4.00% 2036 BTP and EUR 1.5-2bln 1.773% 2034, 1.645% 2035 CCTeu Analysis: Currently, the Italian 10yr yields trades at 4.10%. Focus in Italy over the coming months will be on politics, with a general election set next year. Recently, Cirielli, a senior member of Meloni's party opened the door to a potential alliance with the far-right party National Future. This goes against Meloni's stance that her party is not planning to team up with the far-right party. Furthermore, other officials within the Meloni camp have come out and shot down Cirielli's comments, stating that it is his own position. A key sticking point for the electorate is the rising gas prices, due to the conflict in the Middle East. The government has extended a tax cut on diesel fuel prices until September 5th, adding to the long line of fuel-tax relief measures. Although the new aid will be financed by collecting taxes from energy companies earlier, further financing will be harder to find. All being said, investors have been favouring Italian debt over its French counterpart, with France set for an important Presidential election in 2026. The IT-FR 10yr spread now trades at -0.02%, showing that BTPs are seen as more safe compared to OATs. Recent History: 3.15% 2031: b/c 1.59x, avg. yield 3.39% 4.00% 2036: No recent history 1.773% 2034 CCTeu: No recent history 1.645% 2035 CCTeu: No recent history Results due shortly after the 10:00BST bidding deadline