Mission accomplished for Lisbon, while this time Berlin fails. This morning, the German Treasury placed 3,769-year government bonds worth 5 billion euros, much less than the expected maximum offer of XNUMX billion.
Demand was very weak, which did not go beyond 4,331 billion euros. The average yield, in any case, fell to 1,64%, compared to the previous 1,77%. The German debt agency says the low demand is related to the market situation at the time of supply.
The amount of securities withheld at auction amounted to 1,204 billion euro, significantly higher than the 825 million of the last placement. The debt agency adds that the sale of the withheld government bonds will take place through the secondary market.
The result achieved by Portugal is completely different, placing government bonds with a 3-month maturity for a total amount of 250 million euros, against a demand of 1,57 billion euros. The coverage ratio stood at 6,26, while the gross yield reached 0,75%, down from 0,869% at the January auction.
