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2.40% Nov-30 Bund

GERMAN AUCTION RESULTS
  • A decent 7-year Bund auction with the bid-to-offer/cover both coming in notably better than a last month's launch auction. Part of this was due to the auction size being smaller but that only accounted for part of the improvement.
  • The lowest accepted price of 99.14 was higher than the mid-price in the 3 minutes leading up to the cut-off time and we are trading comfortably above that level at the time of writing (and indeed about the average auction price).

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