The spread began to decline again, reaching 80, among the lowest in recent weeks. The auctions of government bonds also contributed to reducing spreads and yields, which ended in July with those of medium and long-term securities. The spread of August 3, 2026Since the close of Friday 31 July, the spread between Italian BTPs and German Bunds has reduced by two points, reaching 80. The 80-point spread represents investor confidence in the Italian economy, also linked to the drop in oil prices. Demand was high for all securities, with a consequent reduction in yields, which stood at:at 3.39% for 5-year BTPs (Isin IT0005707614);at 4.00% for 10-year BTPs (Isin IT0005706285);at 3.95% for 15-year BTPs (Isin IT0005402117);at 3.30% for CctEu (Isin IT0005707689).