The German federal government sold E1.933 billion in new 12-month
bubills at a weighted average yield of 0.346%, the Bundesbank announced
Monday.
The average price of today’s auction was 99.65138 and the highest
accepted yield was 0.354%. The government accepted 100% of bids at the
highest accepted yield.
The weighted average yield of 0.346% compares to the 0.2418% yield
at the last 12-month auction September 26.
There were E8.335 billion in bids for the bubills, including E3.055
billion in non-competitive bids. The government accepted 60% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 4.3, above the 2.5
b/c at the September auction. The government retained E67 million of the
issue, bringing total issue volume to E2 billion, as planned.
The bubills will settle on Wednesday, November 2 and mature on
October 31, 2012.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
