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GERMAN T-BILL AUCTION RESULTS

6/9-month bubills

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J.P.Morgan note that "the Treasury will also announce end-of-month supply tomorrow for auction next week. We expect Treasury to announce $60bn 2-Year notes, $61bn 5-Year notes, and $62bn 7-Year notes, all unchanged in size since last month, and we also project $28bn new-issue 2-Year FRNs, unchanged in size from the last new-issue auction. We think the 2-, 5-, and 7-Year rolls should open at +4.0bp, +2.125bp, and +1.375bp, respectively."