FX.co ★ Italian 2-Year CTZ Auction Yields Jump to 3.64%, Marking Notable Rise in Funding Costs

Yields on Italy’s 2-year CTZ (Certificati del Tesoro Zero Coupon) rose sharply at the latest auction, with the current indicator reaching 3.640%, up from the previous 3.020%. The move signals a notable increase in short-term funding costs for the Italian Treasury.

The data, updated on 24 September 2026, highlight a steeper yield environment in the very short end of Italy’s curve, suggesting investors are now demanding higher compensation to hold Italian zero-coupon debt. The rise from just above 3.0% to well above 3.5% in a single auction cycle underscores shifting market conditions and potentially changing expectations around rates and risk pricing for Italian government securities.