Germany Sells $5.3 Billion of Government Bonds

Wednesday, 04 Jan 2012 09:38 AM

 

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Germany sold 4.06 billion euros ($5.3 billion) of government bonds on Wednesday, drawing greater demand from investors than at the bond's launch in November.

The auction received bids worth 1.3 times the amount allotted to investors, compared with 1.1 percent at the previous sale.

The average yield was 1.93 percent, compared with 1.98 percent last time November's launch of the January 2022 bond was one of the worst German debt auctions on record.

"Much better than November's auction, but not particularly great either," Peter Chatwell, Rate Strategist at Credit Agricole said.

"Technically the auction was covered (5.14 billion euros for a 5 billion euro auction) but the average price of 100.62 in this morning's 100.58-101.08 range is not that great, coming in very close to the lows," he added.

© 2014 Thomson/Reuters. All rights reserved.

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