The auction of the 1.30% Oct-27 Green Bobl saw a similar volume of bids to the last green auction on 24 January (the 0% Oct-25 Green Bobl).
However, despite the price falling ahead of the auction cut-off, today's auction still saw the lowest accepted price of 96.20 below the pre-auction mid-price of 96.213. In our view this made today's auction slightly disappointing, despite the decent bid-to-cover.

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The auction of the 1.30% Oct-27 Green Bobl saw a similar volume of bids to the last green auction on 24 January (the 0% Oct-25 Green Bobl).
However, despite the price falling ahead of the auction cut-off, today's auction still saw the lowest accepted price of 96.20 below the pre-auction mid-price of 96.213. In our view this made today's auction slightly disappointing, despite the decent bid-to-cover.

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Slightly disappointing green Bobl auction