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Decent auction

GERMAN AUCTION RESULTS
  • Decent auction for the 7-year 2.40% Nov-30 Bund with the average and lowest accepted price both coming in at 98.09 - above the intraday high seen on Bloomberg of 98.070 today which was achieved just ahead of the auction cutoff time.
  • This premium in price is enough to offset any negativity from the reduction in the bid-to-cover and bid-to-offer ratios.

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