FRANKFURT (MNI) – The German federal government sold E3.815 billion
new 12-month bubills at a weighted average yield of 0.5675%, the
Bundesbank announced Monday.
The weighted average yield was lower than the 0.5747% yield at the
last new 12-month auction March 29.
The average price of today’s auction was 99.44038 and the highest
accepted yield was 0.5690%. The Federal Financing Agency accepted 100%
of bids at the highest accepted yield.
There were E7.180 billion in bids for the bubills, including E2.175
billion in non-competitive bids. The Financing Agency accepted 100% of
the non-competitive bids.
The bid/cover ratio (excluding retention) was 1.9, higher than the
1.5 b/c at the March 29 auction. The government retained E185 million of
the issue (or about 4.6%), bringing total issue volume to E4 billion, as
planned.
The bubills will settle on Wednesday, April 28 and mature on April
20, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$G$$$,M$$FI$,MGX$$$]