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0% Apr-27 Bobl

GERMAN AUCTION PREVIEW
MNI (London)

Germany will come to the market today to launch E4bln nominal of the new 0% Apr-27 Bobl.

  • On offer will be: 0% Apr-27 Bobl. ISIN: DE0001141851.
  • Auction history: This will be the first auction of the 0% Apr-27 Bobl, which replaces the 0% Oct-26 Bobl (ISIN: DE0001141844) as the on-the-run issue. The 0% Oct-26 Bobl was first auctioned July 7 2021, where E5bln was issued with E3.95bln allotted at an average yield of -0.590% and a bid-to-offer of 1.09x (bid-to-cover was technically uncovered at 0.86x). Five auctions followed once a month, all with smaller auction sizes of E3.0-4.0bln. The latest December auction saw E3.0bln issued with E2.46bln allotted at a yield of -0.580% and a bid-to-offer of 1.59x (bid-to-cover 1.30x).
  • Timing: Results are due shortly after the auction closes at 10:30GMT / 11:30CET.

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