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0% Dec-23 Schatz

GERMAN AUCTION PREVIEW
  • Germany will come to the market this morning to launch the new 0% Dec-23 Schatz for E6bln.
  • The last Schatz auction was relatively successful compared to other recent auctions, acheiving a bid-to-cover of 1.35x and bid-to-offer of 1.72x. 5 of the 6 auctions prior to that saw bid-to-covers range from 0.9x-1.1x.
  • Timing: Results will be available shortly after the auction closes at 10:30GMT/11:30CET.

Schatz auctions in 2021

IssuedAllottedAvg yieldBid/coverBid/offerPricePre-auct
Last 5 aveE5.2blnE4.14bln-0.698%1.06x1.33x
12-Oct-21E5blnE3.916bln-0.69%1.35x1.72x101.33101.34
14-Sep-21E5blnE3.908bln-0.70%0.96x1.23x101.42101.42
17-Aug-21E6blnE4.809bln-0.75%1.09x1.35x100.56New
13-Jul-21E5blnE3.999bln-0.67%0.95x1.18x101.31101.31
15-Jun-21E5blnE4.068bln-0.68%0.97x1.19x101.37101.37
18-May-21E6blnE4.849bln-0.66%0.91x1.13x101.38New
20-Apr-21E5blnE4.085bln-0.69%1.09x1.33x101.31100.30
16-Mar-21E5blnE3.932bln-0.70%1.27x1.61x101.40101.39
02-Feb-21E6blnE4.732bln-0.73%1.03x1.31x101.56New
05-Jan-21E6blnE4.84bln-0.73%1.22x1.51x101.42101.42

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