Italy sovereign debt shows stability as BTP-Bund spread falls

Italian sovereign debt markets showed stability on August 19, 2026, as the BTP-Bund spread decreased by 0.35% to 82 basis points. At this level, the 10-year Italian BTP yield stood at 4.09% compared to the German Bund yield of 3.27%. Notably, the Italian yield remained lower than the French 10-year Oat yield, which reached 4.13%, resulting in an 86-basis-point spread between French and German bonds.

Regarding specific bond products, the BTP Più maturing February 28, 2033, is scheduled to issue its sixth quarterly coupon on August 25, 2026. This coupon is calculated at a gross annual rate of 2.80%, yielding 7.00 euros gross per 1,000 euros of nominal value. The security features a step-up mechanism, with interest rates scheduled to increase to 3.60% in February 2027, reaching a maximum of 4.80% in its fifth and sixth years.