Italian 10-year bond yield rises to 4.36 percent in September
Italian benchmark bond yields rose in September 2026, with the 10-year yield increasing 37 basis points to 4.36 percent. Bank of Italy statistics published on October 15 also show €15.6 billion in net redemptions in August.
Higher yields, negative issuance
September gross benchmark yields rose 41 basis points to 3.56 percent for 3-year Treasury bonds (BTPs), 37 to 4.36 percent for 10-year BTPs and 23 to 5.01 percent for 30-year BTPs.
Floating-rate Treasury certificates (CCTs) gained 7 basis points to 3.34 percent.
In August, resident issuers recorded net redemptions of €15.6 billion, including €12.9 billion for general government.
BTP net redemptions of €19.8 billion outweighed net issuance of €4.6 billion in Treasury bills (BOTs) and €2.3 billion in CCTs.
Banks recorded €2.3 billion in net redemptions.
Other sectors recorded €0.4 billion in net redemptions overall: other financial intermediaries redeemed a net €718 million, while non-financial corporations issued a net €356 million.
Trading expands as funds grow
September government-securities turnover reached €1,807.518 billion on MTS, versus €1,666.764 billion in August.
On Borsa Italiana's MOT, turnover rose from €14.392 billion to €26.000 billion.
Provisional August data put Italian-law open-end fund net assets at €340.179 billion and net subscriptions at €812 million.
Provisional Q2 investment-fund market net assets reached €1,669.376 billion, with €20.225 billion in net subscriptions.
Portfolio management services reported provisional managed funds of €1,108.471 billion and net outflows of €7.463 billion in Q2.
Different clocks, different measures
The release pairs August issuance with September yields, rather than measuring both in the same month.
Benchmark yields are period averages, not month-end observations.
Fund assets and subscriptions describe separate stock and flow measures, with several latest figures still provisional.
Source: The Financial Market, August-September 2026
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