--- source: Deutsche Finanzagentur url: https://www.deutsche-finanzagentur.de/en/federal-securities/issuances/issuance-results document_type: html date_retrieved: 2026-03-15 period: March 2026 parent_publication: Issuance Results indicators_covered: [Government Bond 10Y] --- # Issuance Results ## The Latest 10 Issuance Results On the auction day of a Federal security, the allotment amounts are transmitted to the "Bund Bidding System" (BBS) for the members of the Bund Issues Auction Group immediately after the allotment decision. Immediately afterwards, the auction result is then published on capital market information systems as well as on this website. Furthermore, this overview also contains issue results from syndicates. N : = New Issue, R = Reopening; Bund: Federal bond with maturity of 7, 10, 15 or 30 years, Bund/g : green Federal bond with maturity of 10 or 30 years, Bobl : Federal note with maturity of 5 years, Bobl/g : green Federal note with maturity of 5 years; Schatz : Federal Treasury note with maturity of 2 years, Bubill : Treasury discount paper with maturity of 12 months; (Weighted) Average price = Price weighted with the allocated volume, Average yield = Yield of the average price; Retention quote = Retained part of the issue volume, Bid-to-Cover Ratio = Ratio of offered and allocated volume, Bid-to-Offer Ratio = Ratio of offered volume to issue volume ## Auction Result Table | Date | Bond | Coupon | Maturity segment | Lowest accepted price | Average price | Average yield | |---|---|---|---|---|---|---| | 11.03.2026 | Bund ( R ) DE000BU2Z064 | 2.90% | 10 Y | 100.02 | 100.05 | 2.89% | | Competitive bids | Non-competitive bids: 1,960 € mn 2,551 € mn Overall bids: 4,511 € mn Issuance volume: 5,000 € mn Allotted volume | Retention quote: 3,811 € mn 1,189 € mn Bid-to-Cover ratio: 1.2 Bid-to-Offer ratio: 0.9 Details | | 10.03.2026 | Schatz ( R ) DE000BU22122 | 2.10% | 2 Y | 99.67 | 99.674 | 2.27% | | Competitive bids | Non-competitive bids: 2,310 € mn 3,904 € mn Overall bids: 6,214 € mn Issuance volume: 5,000 € mn Allotted volume | Retention quote: 3,871.08 € mn 1,128.92 € mn Bid-to-Cover ratio: 1.6 Bid-to-Offer ratio: 1.2 Details | | 09.03.2026 | Bubill ( R ) DE000BU0E329 | - | 12 M | 99.06079 | 99.06299 | 2.115% | | Competitive bids | Non-competitive bids: 990 € mn 383 € mn Overall bids: 1,373 € mn Issuance volume: 2,000 € mn Allotted volume | Retention quote: 583 € mn 1,417 € mn Bid-to-Cover ratio: 2.4 Bid-to-Offer ratio: 0.7 Details | | 09.03.2026 | Bubill ( R ) DE000BU0E386 | - | 12 M | 97.87112 | 97.87477 | 2.279% | | Competitive bids | Non-competitive bids: 2,160 € mn 1,578 € mn Overall bids: 3,738 € mn Issuance volume: 2,000 € mn Allotted volume | Retention quote: 989 € mn 1,011 € mn Bid-to-Cover ratio: 3.8 Bid-to-Offer ratio: 1.9 Details | | 04.03.2026 | Bund/g ( R ) DE000BU3Z005 | 2.30% | 10 Y | 98.58 | 98.58 | 2.53% | | Competitive bids | Non-competitive bids: 890 € mn 800 € mn Overall bids: 1,690 € mn Issuance volume: 1,000 € mn Allotted volume | Retention quote: 960 € mn 40 € mn Bid-to-Cover ratio: 1.8 Bid-to-Offer ratio: 1.7 Details | | 03.03.2026 | Bund/g ( N ) DE000BU3F007 | 2.60% | 15 Y | 0.00 | 93.552 | 3.14% | | Issuance volume: 4,000 € mn Allotted volume | Retention quote: 3,000 € mn 1,000 € mn Bid-to-Cover ratio: - Bid-to-Offer ratio: - Details | | 03.03.2026 | Bobl ( R ) DE000BU25067 | 2.50% | 5 Y | 100.30 | 100.31 | 2.43% | | Competitive bids | Non-competitive bids: 1,635 € mn 2,934 € mn Overall bids: 4,569 € mn Issuance volume: 5,000 € mn Allotted volume | Retention quote: 3,825.32 € mn 1,174.68 € mn Bid-to-Cover ratio: 1.2 Bid-to-Offer ratio: 0.9 Details | | 02.03.2026 | Bubill ( R ) DE000BU0E303 | - | 12 M | 99.42726 | 99.42726 | 1.975% | | Competitive bids | Non-competitive bids: 3,600 € mn 1,485 € mn Overall bids: 5,085 € mn Issuance volume: 2,000 € mn Allotted volume | Retention quote: 1,835 € mn 165 € mn Bid-to-Cover ratio: 2.8 Bid-to-Offer ratio: 2.5 Details | | 02.03.2026 | Bubill ( R ) DE000BU0E378 | - | 12 M | 98.47808 | 98.47808 | 1.987% | | Competitive bids | Non-competitive bids: 3,115 € mn 1,345 € mn Overall bids: 4,460 € mn Issuance volume: 2,000 € mn Allotted volume | Retention quote: 1,705 € mn 295 € mn Bid-to-Cover ratio: 2.6 Bid-to-Offer ratio: 2.2 Details | | 25.02.2026 | Bund ( R ) DE0001102598 | 1.00% | 15 Y | 80.38 | 80.39 | 2.93% | | Competitive bids | Non-competitive bids: 590 € mn 1,002 € mn Overall bids: 1,592 € mn Issuance volume: 1,000 € mn Allotted volume | Retention quote: 821.04 € mn 178.96 € mn Bid-to-Cover ratio: 1.9 Bid-to-Offer ratio: 1.6 Details | ## Current and Historical Issuance Results Since 1999 ## Discover More Topics ### Related links - Issuances: https://www.deutsche-finanzagentur.de/en/federal-securities/issuances/primary-market - Issuance Calendar: https://www.deutsche-finanzagentur.de/en/federal-securities/issuances/issuance-calendar - Issuance Results: https://www.deutsche-finanzagentur.de/en/federal-securities/issuances/issuance-results - Issuance results current year (PDF): https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionsergebnisse_aktuell_en.pdf - Issuance results current year (XLSX): https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionsergebnisse_aktuell_en.xlsx - Historic issuance results since 1999 (XLSX): https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionshistorie_en.xlsx