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Decent auction

GERMAN AUCTION RESULTS
  • A decent Schatz auction despite both the bid-to-offer and bid-to-cover falling versus December's auction.
  • The lowest accepted price of 101.220 was close to the day's pre-auction high (which was 101.221) with the average price at the auction of 101.223 exceeding today's secondary market pricing.
  • This has helped the 3.10% Dec-25 Schatz move back to the day's high of 101.221 following the release of the results.

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