FRANKFURT (MNI) – The German federal government sold E3.855 billion
new 12-month bubills at a weighted average yield of 0.3421%, the
Bundesbank announced Monday.
The weighted average yield was lower than the 0.5675% yield at the
last new 12-month auction April 26.
The average price of today’s auction was 99.65529 and the highest
accepted yield was 0.3500%. 100% of bids at the highest accepted yield
were accepted.
There were E5.785 billion in bids for the bubills, including E1.250
billion in non-competitive bids. 70% of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 1.5, lower than the
1.9 b/c at the April 26 auction. The government retained E145 million of
the issue (or about 3.6%), bringing total issue volume to E4 billion, as
planned.
The bubills will settle on Wednesday, May 19 and mature on May 18,
2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
