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0% Feb-32 Bund

GERMAN AUCTION PREVIEW
MNI (London)
  • On offer today: E4bln of the 0% Feb-32 Bund (ISIN: DE0001102580)
  • Market colour: Since the launch at the beginning of the year, yields have risen around 140bp for the on-the-run 10-year Bund to stand around 1.310% at the time of writing. Yields dipped 40bp from mid-Feb to March 7 at the onset of the Ukraine war, however, a strong recovery was seen from the second week of March. Yields hit a high of 1.334% yesterday.
  • This will be the last auction of the 0% Feb-32 Bund before the new Aug-32 Bund is launched in July.
  • Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.

Auction history:

IssuedAllottedAvg yieldBid/coverBid/offerPricePre-auctOperation
On offer:
Current1.310%
Last 5 aveE4blnE3.309bln0.480%1.20x1.45x
11-May-22E4blnE3.23bln0.960%1.10x1.36x91.0691.06Auction
13-Apr-22E4blnE3.274bln0.830%1.03x1.26x92.2192.20Auction
16-Mar-22E4blnE3.427bln0.380%1.08x1.26x96.2896.26Auction
16-Feb-22E4blnE3.273bln0.310%1.63x1.99x96.9896.95Auction
26-Jan-22E4blnE3.344bln-0.080%1.15x1.38x100.78100.76Auction
05-Jan-22E4blnE3.13bln-0.090%1.14x1.46x100.95NewAuction

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