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0% May-36 Bund

GERMAN AUCTION PREVIEW
MNI (London)

Germany will come to the market today to sell E1.5bln of the 15-year Bund.

  • On offer will be the 0% May-36 Bund. ISIN: DE0001102549
  • Auction history: This will be the tenth re-opening of the 0% May-36 Bund, which was launched via auction on March 3, 2021.
  • Today's auction will be a smaller size than average for the 15-year Bund, with E1.5bln being issued. The latest reopening was January 19, where E1.5bln was also issued, however previous reopenings have all ranged between E2.0-2.5bln in size.
  • The most recent January auction saw E1.326bln allotted at an average yield of 0.150% and a 1.15x bid-to-offer (the bid-to-cover was 1.01x ). Prior to this, the previous four auctions in July, September, October and November were all notably technically uncovered.
  • The second most recent auction was on November 24 and had an issuance volume of E2.0bln. This auction allotted E980mln at an average yield of -0.060%, resulting in a low bid-to-cover of 0.54x (the bid-to-offer was 1.10x).
  • Timing: Results are due shortly after the auction closes at 10:30GMT / 11:30CET.
Germany ISIN Code NewsHomepagemarkets-real-timeBulletMarketsFixed Income Bullets
Germany ISIN Code NewsHomepagemarkets-real-timeBulletMarketsFixed Income Bullets

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