FRANKFURT (MNI) – The German federal government sold E2.655 billion
in new 12-month bubills at a weighted average yield of 1.2649%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 1.0636% yield at the
last 12-month auction February 28.
The average price of today’s auction was 98.73720 and the highest
accepted yield was 1.2700%. The government accepted 100% of bids at the
highest accepted yield.
There were E5.950 billion in bids for the bubills, including E1.405
billion in non-competitive bids. The government accepted 100% of the
non-competitive bids.
The bid/cover ratio (excluding retention) was 2.2, above/below the
2.0 b/c at the February 28 auction. The government retained E345 million
of the issue (or 11.5%), bringing total issue volume to E3 billion, as
planned.
The bubills will settle on Wednesday, March 30 and mature on March
28, 2012.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]