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%)
Newsquawk Staff ·
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%)
What it means
The German Bund auction came in below expectations with a sale of EUR 4.238 billion versus the EUR 5.5 billion anticipated. 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.
- BoC Deputy Governor Rogers says uncertainty over the economy is hanging over the Canadian housing market
- BoC Governor Macklem says Canada is seeing increased investment in the energy sector; policy rate remains low enough not to restrain economic growth, even after the latest hike
- Canadian BoC Interest Rate Decision 2.5% vs. Exp. 2.5% (Prev. 2.25%)
- Germany sells EUR 3.89bln (exp. 5.5bln) 2036 Bund: b/c 1.15x (prev. 1.16x), average yield 3.37% (prev. 3.58%), retention 29.3% (prev. 24.1%)
- US sells USD 70bln of 5-year notes; Tail 0.4bps
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