FRANKFURT (MNI) – The German federal government sold E2.853 billion
new 12-month bubills at a weighted average yield of 0.607%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 0.4995% yield at the
last twelve month auction August 23.
The average price of today’s auction was 99.39% and the highest
accepted yield was 0.615%. All the bids at the highest accepted yield
were accepted.
There were E6.703 billion in bids for the bubills, including E1.141
billion in non-competitive bids. All of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 2.3, lower than the
2.4 b/c at the August auction. The government retained E1.147 billion of
the issue, bringing total issue volume to E4 billion, as planned.
The bubills will settle on Wednesday, September 29 and mature on
September 28, 2011.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
