FRANKFURT (MNI) – The German federal government sold E1.94150
billion January 2011 maturity bubills at a weighted average yield of
0.4686%, the Bundesbank announced Monday.
The weighted average yield was lower than the 0.6255% yield at the
bubill’s initial auction January 25.
The average price of today’s auction was 99.63686 and the highest
accepted yield was 0.4750%. The Federal Financing Agency accepted 70% of
bids at the highest accepted yield.
There were E6.845 billion in bids for the bubills, including E1.845
billion in non-competitive bids. The Financing Agency accepted 90% of
the non-competitive bids.
The bid/cover ratio (excluding retention) was 3.5, higher than the
2.9 b/c at the January 25 auction. The government retained E58.5 million
of the issue (or about 2.9%), bringing total issue volume to E2 billion,
as planned.
The bubills will settle on Wednesday, April 21 and mature on
January 26, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
