FRANKFURT (MNI) – The German federal government sold E2.515 billion
in new 12-month bubills at a weighted average yield of 1.2507%, the
Bundesbank announced Monday.
The weighted average yield was lower than the 1.2986% yield at the
last 12-month auction June 27.
The average price of today’s auction was 98.7512 and the highest
accepted yield was 1.255%. The government accepted 100% of bids at the
highest accepted yield.
There were E4.58 billion in bids for the bubills, including E1.78
billion in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 1.8, below the 3.9
b/c at the June auction. The government retained E485 million of the
issue, bringing total issue volume to E3 billion, as planned.
The bubills will settle on Wednesday, July 27 and mature on July
25, 2012.
— Frankfurt bureau: +49-69-720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
