Federal securities

German Government securities are among the most actively traded and most liquid sovereign debt instruments in the world. They enjoy benchmark status in the eurozone and beyond thanks to their excellent liquidity, the Federal Government's transparent and reliable issuance policy and first-class issuer credit rating.

Investors can choose from a wide range of actively traded securities with extremely low risk and a simple, clear structure. The maturities of German Government securities range from six months up to thirty years. Thanks to the first-class issuer credit rating of the Federal Government and its transparent and reliable issuance policy, investors have placed their trust in German Government securities for decades. In order to further consolidate this unique position, the Federal Government will in future continue to improve its market presence.

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Recent auctions

Capital market instruments
Tender Issuance Bid/Cover Volumes Yield
12.12.2017 Schatz (R)
DE0001104701
1.7
(A)
(B)
-0.74 %
06.12.2017 Bund (R)
DE0001102424
1.1
(A)
(B)
0.30 %
22.11.2017 Bund (R)
DE0001102432
1.7
(A)
(B)
1.20 %
Auction results
N: New Issue     R: Reopening     A: Allotment     B: Bids
Money market instruments
Tender Issuance Bid/Cover Volumes Yield
13.11.2017 Bubill (N)
DE0001137719
1.7
(A)
(B)
-0.75 %
09.10.2017 Bubill (N)
DE0001137701
2.2
(A)
(B)
-0.73 %
11.09.2017 Bubill (N)
DE0001137693
2.0
(A)
(B)
-0.77 %
Auction results
N: New Issue     R: Reopening     A: Allotment     B: Bids