EU sells EUR 6.092bln vs exp. EUR 7bln 2.625% 2028, 3.125% 2030 and 3.375% 2038 EU Bond
The EU's bond auction saw a total sale of EUR 6.092 billion, falling short of the EUR 7 billion expectation, which suggests weaker demand.
Merck (MRK) is said to reorganise its main Pharma unit and form a separate cancer unity, WSJ reports
Newsquawk Daily US Opening News - 23rd February 2026
EU sells EUR 6.092bln vs exp. EUR 7bln 2.625% 2028, 3.125% 2030 and 3.375% 2038 EU Bond
EU is set to freeze trade deal approval over US President Trump's tariff risk, Bloomberg reports
EU envoys to discuss trade relations with the US at a meeting scheduled for Monday afternoon
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- EUR 1.93bln 3.375% 2038: b/c 1.16x (prev. 1.42x), average yield 3.319% (prev. 3.38%)
- EUR 2.18bln 3.125% 2030: b/c 1.17x, average yield 2.454%
- EUR 1.986bln 2.625% 2028: b/c 1.19x (prev. 1.15x), average yield 2.185% (prev. 2.128%)
The bid-to-cover ratios for the bonds were mixed, with the longer-dated issues seeing significantly reduced interest, possibly reflecting caution from investors amid rising yields. This could influence market sentiment towards EU bonds and have ripple effects on interest rates and risk appetite in the broader fixed income space.
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