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Germany Sells EUR 2.4 Bln New 30-year Bond

Germany raised EUR 2.405 billion from the sale of its new 30-year bond, data from the Bundesbank showed Wednesday.

The auction of the 2.50 percent July 2044 bond attracted bids totaling EUR 2.747 billion, which was less than the EUR 3 billion target set for the sale. The amount set aside for secondary market operations was EUR 594.6 million.

The average yield on the 30-year debt dropped to 2.41 percent from 2.62 percent paid for a security of similar maturity on January 25. The bid-to-cover ratio, which indicates demand, fell to 1.1 from 2.1.

by RTTNews Staff Writer

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