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Relatively strong 10-year Bund auction

GERMAN AUCTION RESULTS
  • A relatively strong 10-year Bund auction for the 2.60% Aug-33 Bund with the average price and lowest accepted price both at 99.77 (to two decimals), in excess of the pre-auction mid-price of 99.731.
  • The bid-to-cover and bid-to-offer were both higher than the August auction, too.
  • We did dip from around 99.82 around 5 minutes ahead of the auction but we have now recovered to above 99.80 at the time of writing.

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