The German federal government sold E2.02 billion in new 12-month
bubills at a weighted average yield of 0.2418%, the Bundesbank announced
Monday.
The average price of today’s auction was 99.75611 and the highest
accepted yield was 0.25%. The government accepted 100% of bids at the
highest accepted yield.
The weighted average yield of 0.2418% compares to the 0.549% yield
at the last 12-month auction August 29.
There were E4.98 billion in bids for the bubills, including E1.12
billion in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 2.5, above the 2.4
b/c at the August auction. The government retained E980 million of the
issue, bringing total issue volume to E3 billion, as planned.
The bubills will settle on Wednesday, September 28 and mature on
September 26, 2012.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MFXBO$,MGX$$$]
