Free Trial

0.80% Jul-25 EU NGEU

EUROZONE ISSUANCE
MNI (London)
  • On offer today: Up to E4bln of the 0.80% Jul-25 EU NGEU (ISIN: EU000A3K4DJ5)
  • Market colour: 3-year NGEU yields rose around 126bp from the mid-May launch to the high of 1.878% on June 16. After then decreasing by around 121bp until the beginning of August, yields have resumed an upwards trajectory and were around 1.567% at the time of writing.
  • Spreads to the 0% Oct-25 Bobl have widened around 39bp since the launch and are currently at a high of approx. 62bp.
  • Note that this is the largest EU auction - since the launch of the auction programme all auctions before today had been for up to E2.5bln.
  • Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.


Auction history:

DateIssuedAvg yieldBid/coverPricePre-auctOperation
Current1.567%
11-May-22E6bln0.820%99.94NewSynd

Similar past auctions: 0% Jul-26 EU NGEU

DateIssuedAvg yieldBid/coverPricePre-auctOperation
Current1.702%
27-Jun-22E2.494bln1.550%1.35x94.0193.90Auction
28-Feb-22E2.5bln0.161%1.33x99.3099.11Auction
27-Sep-21E2.495bln-0.487%2.33x102.35102.03Auction
29-Jun-21E9bln-0.335%101.69NewSynd

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.