Lisbon, June 17, 2026 (Lusa) - The IGCP today auctioned €1.008 billion in Treasury Bills maturing in May 2027 at an interest rate of 2.554%.

According to the IGCP – Treasury and Public Debt Management Agency, €1.008 billion was placed in ‘BT 21MAI2027’ (maturing on 21 May 2027) at a weighted average rate of 2.554%, with demand 2.44 times higher than supply.

The average price was 97.672% of the face value.

The IGCP announced on 12 June that it would hold an auction today at 10.30 am for BTs maturing in May 2027, with an indicative amount of between €1 and €1.25 billion.

In a comment sent to the Lusa news agency, Filipe Silva, Investment Director at Banco Carregosa, attributed the rise in the interest rate at today’s auction to 2.554%, compared with the 2.475% recorded at the April auction, to the “current geopolitical and macroeconomic climate”.

“The recent 25-basis-point rise in interest rates by the European Central Bank (ECB) comes against a backdrop of strong inflationary pressure, exacerbated by the sharp rise in energy prices and the consequent weakening of economic sentiment,” he said.

According to Filipe Silva, “although the most recent developments relating to the conflict involving Iran have brought some optimism to the markets, these are not yet sufficient to provide sustained relief from the pressure on short-term rates”.

“Uncertainty regarding the evolution of the geopolitical landscape, as well as the risk of further disruptions in the energy markets, continue to weigh on investor expectations and are reflected in the premiums demanded by the market,” he concluded.

BTs are short-term government debt securities, maturing within one year, which enable the state to raise funds through a more agile cash management model.

PD/ADB // ADB.

Lusa