FRANKFURT (MNI) – The German federal government sold E1.895 billion
in a top up of its February 2011 maturity bubills at a weighted average
yield of 0.2631%, the Bundesbank announced Monday.
The weighted average yield was lower than the 0.5842% yield at the
bubill’s initial auction February 22.
The average price of today’s auction was 99.80598 and the highest
accepted yield was 0.27%. 100% of bids at the highest accepted yield
were accepted.
There were E5.525 billion in bids for the bubills, including E1.1
billion in non-competitive bids. 65% of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 2.9, higher than the
2.0 b/c at the February 22 auction. The government retained E105 million
of the issue, bringing total issue volume to E2 billion, as planned.
The bubills will settle on Wednesday, June 2 and mature on February
23, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]