FRANKFURT (MNI) – The German federal government sold E1.605 billion
in a top up of its June-2011 bubill at a weighted average yield of
0.5599%, the Bundesbank announced Monday.
The weighted average yield was higher than the 0.4511% yield at the
bill’s initial auction June 28.
The average price of today’s auction was 99.56641% and the highest
accepted yield was 0.5640%, at which 100% of bids were accepted.
There were E5.625 billion in bids for the bubills, including E0.615
billion in non-competitive bids, all of which were accepted.
The bid/cover ratio (excluding retention) was 3.5, higher than the
1.9 b/c at the June 28 auction. The government retained E395 million of
the issue (or 6.58%), bringing total issue volume to E6 billion, as
planned.
The bubills will settle on Wednesday, September 22 and mature on
June 29, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
