Germany sells EUR 4.238bln vs exp. EUR 5.5bln 2.90% 2036 Bund: b/c 1.46x (prev. 1.65x), average yield 2.73% (prev. 2.85%), retention 22.9% (prev. 23.3%)
The German Bund auction came in below expectations with a sale of EUR 4.238 billion versus the EUR 5.5 billion anticipated.
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Germany sells EUR 4.238bln vs exp. EUR 5.5bln 2.90% 2036 Bund: b/c 1.46x (prev. 1.65x), average yield 2.73% (prev. 2.85%), retention 22.9% (prev. 23.3%)
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The bid-to-cover ratio of 1.46x indicates weaker demand compared to the previous auction's 1.65x, and the average yield also declined, which may reflect concerns over future economic growth and the bond's attractiveness in the current rate environment.
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