Germany, placed bunds for 3,8 billion on an initial offer of 5

Germany placed 10-year bonds worth 3,87 billion at a rate of 1,77%. This is the lowest level ever. The coupon indicated yesterday by the government was 1,75% annually. The Bundesbank, which manages the placement of the debt, received requests equal to 4,1 billion, lower than the offer which was 5 billion in total and accepted all those at the lowest rate, therefore precisely 3,87 billion. The unplaced tranche, equal to 1,130 billion, was instead held by the central bank to then be placed on the secondary market at a later time.