FRANKFURT (MNI) – The German federal government sold E2.945 billion
in new twelve-month bubills at a weighted average yield of 0.8521%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 0.6070% yield at the
last twelve-month auction September 27.
The average price of today’s auction was 99.14579 and the highest
accepted yield was 0.8600%. 40% of bids at the highest accepted yield
were accepted.
There were E5.235 billion in bids for the bubills, including E700
million in non-competitive bids. 100% of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 1.8, lower than the
2.3 b/c at the September 27 auction. The government retained E55 million
of the issue (or 1.8%), bringing total issue volume to E3 billion, as
planned.
The bubills will settle on Wednesday, October 27 and mature on
October 26, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
