Federal notes ("Bobls")
Maturity: 5 years
Income: fixed annual interest payment
Redemption: at par value
Price risk: medium
Issuer risk: very low
Federal notes (Bobls), which have maturities of five years, represent the middle of the German Government yield curve.
Bobls as a proportion of currently tradeable Government debt
As in 2021, two new series are to be issued in 2022: Series 185 in January and Series 186 in June. The new issues of €4 bn will be followed by five reopenings of €3 or €4 bn each.
In the 2022 annual issuance calendar, €43 billion or around 10% of the annual auction volume is expected to be accounted for by federal notes, €6 billion less than in 2021.
Bobls as a proportion of total issuance volume in 2022
As at the end of 2021, Bobls accounted for € 217 bn of tradable Federal securities in circulation. Thereof each security comprised a volume between € 18.5 to 25 bn.
In 2021, Bobls made up about 15 % (€ 715 bn) of the trading volume in German Government securities of the Bund Issues Auction Group. 2020 their share amounted to about 16 % (€ 694 bn).
Currently tradeable five-year Federal notes
|No security was found.|
|Bobl||07.10.2022||0.00 %||19,500 € m||16.04.2020||DE0001141760|
|Bobl||14.04.2023||0.00 %||18,500 € m||16.04.2020||DE0001141778|
|Bobl||13.10.2023||0.00 %||18,500 € m||16.04.2020||DE0001141786|
|Bobl||05.04.2024||0.00 %||23,500 € m||16.04.2020||DE0001141794|
|Bobl||18.10.2024||0.00 %||22,500 € m||16.04.2020||DE0001141802|
|Bobl||11.04.2025||0.00 %||20,000 € m||03.06.2020||DE0001141810|
|Bobl||10.10.2025||0.00 %||25,000 € m||02.12.2020||DE0001141828|
|Bobl||10.04.2026||0.00 %||25,000 € m||02.06.2021||DE0001141836|
|Bobl||09.10.2026||0.00 %||24,000 € m||01.12.2021||DE0001141844|
|Bobl||16.04.2027||0.00 %||19,000 € m||10.05.2022||DE0001141851|