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New 0.20% Jun-24 Schatz

GERMAN AUCTION PREVIEW
MNI (London)
  • On offer today: E6bln of the new 0.20% Jun-24 Schatz (ISIN: DE0001104883), launched via conventional auction.
  • Market colour: The new Schatz will have the first non-zero coupon since the 0.25% Jun-16 Schatz (that was first issued in May 2014). Yields for the current on-the-run Schatz (0% Mar-24 Schatz) have risen since the 40bp dip at the beginning of March at the onset of the Ukraine war. Yields reached a high of 0.349% on May 6 and have moderated to around 0.172% at time of writing.
  • Timing: Results will be available shortly after the auction closes at 1030 BST / 1130 CEST.

Similar past auctions:

The current on-the-run Schatz is the 0% Mar-24 Schatz (DE0001104875).

IssuedAllottedAvg yieldBid/coverBid/offerPricePre-auctOperation
On offer:E2blnCurrent0.172%
Last 3 aveE5.667blnE4.567bln-0.233%1.03x1.28x
12-Apr-22E5.5blnE4.453bln0.160%1.26x1.55x99.7099.69Auction
15-Mar-22E5.5blnE4.403bln-0.360%0.87x1.08x100.72100.73Auction
01-Feb-22E6blnE4.846bln-0.500%0.97x1.20x100.07NewAuction

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