Btp Italia, why is it convenient? With inflation it can yield 20%, the final premium (and can be bought online)
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The 19th issue of the Btp Italia which protects against inflation is underway: sprint start
A sprint start for the nineteenth issue of the BTP Italia, the government bond indexed to the inflation rate, placed on the market today 6 March. The demand, in fact, is higher than in the previous edition, as confirmed by the general manager of Mts, Ciro Pietroluongo, questioned by Ansa.
But what is the new government bond that protects against inflation? What are its characteristics and what is new compared to past placements?
The new BTP Italia has a minimum annual (real) coupon set at 2%. The definitive one, on the other hand, will be established – as the Mef explains – with a subsequent communication at the opening of the fourth day of issuance, on the morning of Thursday 9 March and can be confirmed or revised upwards.
The latest bond of this type, the BTP Italia launched in November 2022, raised around 12 billion euros, confirming the interest of these instruments among the public of savers and families to whom they are addressed. Also because the cost-of-living indexation, which is eroding the savings that Italians have in their current accounts, is doing the Btp Italia good, as can be seen from the yields of the latest issues (an example: the Btp Italia n.17, issued in June 2022, with a rate of 1.6%, at the end of the year it detached a six-monthly coupon of 7.23%). Remaining cautious in a scenario of price volatility, one can nonetheless imagine that with inflation already acquired by the General Price Index (NIC) for 2023 of 5.5% and a Consumer Price Index for blue-collar households and employees, net of tobacco (Foi, to which the Btp Italia is connected) of a few decimals below, the return for this year on an annualized basis will be around 7-8% (more likely 7.2-7.3%), even in the unlikely event that prices are frozen in March.
Having said that, let’s now see in more detail what Btp Italia are, how they differ from the “traditional” ones and what are the technical indications for those who want to buy them.
Read also Ferruccio de Bortoli’s analysis: Inflation, will the BTP Italia be enough to defend our savings?
06 Mar 2023
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