FRANKFURT (MNI) – The German federal government sold E3.196 billion
new 12-month bubills at a weighted average yield of 0.4511%, the
Bundesbank announced Monday.
The weighted average yield was higher than the 0.3421% yield at the
last new 12-month auction May 17.
The average price of today’s auction was 99.54596 and the highest
accepted yield was 0.455%. All of the bids at the highest accepted yield
were accepted.
There were E6.211 billion in bids for the bubills, including E2.391
billion in non-competitive bids. All of the non-competitive bids were
accepted.
The bid/cover ratio (excluding retention) was 1.9, higher
than the 1.5 b/c at the May 17 auction. The government retained E804
million of the issue, bringing total issue volume to E4 billion, as
planned.
The bubills will settle on Wednesday, June 30 and mature on June
29, 2011.
–Frankfurt newsroom: +49-69-720142; frankfurt@marketnews.com
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