FRANKFURT (MNI) – The German federal government sold E4.595 billion
in new 6-month bubills at a weighted average yield of 0.894%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 0.7628% yield at the
last 6-month auction February 7.
The average price of today’s auction was 99.55007 and the highest
accepted yield was 0.905%. The government accepted 100% of bids at the
highest accepted yield.
There were E7.545 billion in bids for the bubills, including E2.04
billion in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 1.6, above the 1.3
b/c at the February 7 auction. The government retained E405 million of
the issue, bringing total issue volume to E5 billion, as planned.
The bubills will settle on Wednesday, March 16 and mature on
September 14, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]
