FRANKFURT (MNI) – The German federal government sold E2.275 billion
in new 12-month bubills at a weighted average yield of 0.6069%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 0.4511% yield
at the initial auction June 28.
The average price of today’s auction was 99.39010 and the highest
accepted yield was 0.6150%. 100% of bids at the highest accepted yield
were accepted.
There were E6.605 billion in bids for the bubills, including E1.170
billion in non-competitive bids. 100% of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 2.9, higher than the
1.9 b/c at the June 28 auction. The government retained E1.725 billion
of the issue (or about 43.1%), bringing total issue volume to E4
billion, as planned.
The bubills will settle on Wednesday, July 28 and mature on July
27, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
