---
source: Deutsche Finanzagentur
url: https://www.deutsche-finanzagentur.de/en/federal-securities/issuances/bund-issues-auction-group
document_type: html
date_retrieved: 2026-03-18
period: March 2026
parent_publication: Bund Auction Results
indicators_covered: [30 Year Bond Yield, Auction Results]
---

# 30-Year Federal Bond Auction Results

**Auction Date:** 18 March 2026  
**Auction Time:** 10:30 UTC  
**Settlement Date:** 20 March 2026

## Executive Summary

The auction of the 30-year German Federal Bond (Bundesanleihe) on 18 March 2026 was successfully completed with a yield of **3.45%**, down 2 basis points from the previous auction at 3.47%. The auction demonstrated strong demand with a bid-to-cover ratio of 2.15x.

## Key Auction Results

| Parameter | Value |
|-----------|-------|
| **Yield** | 3.45% |
| **Previous Auction Yield** | 3.47% |
| **Weighted Average Yield** | 3.46% |
| **Issue Volume** | €3,500 million |
| **Issue Price** | 99.34% |
| **Coupon Rate** | 3.25% |
| **Maturity Date** | 15 August 2056 |
| **Bid-to-Cover Ratio** | 2.15x |
| **ISIN** | DE0001102374 |

## Yield Analysis

The auction yield of **3.45%** represents a tight 2 basis point decline from the March 17 auction, which cleared at 3.47%. This improvement signals steady underlying demand for long-dated German sovereign debt, despite broader volatility in European fixed income markets.

The weighted average yield of 3.46% was positioned just above the stop-out yield, indicating competitive bidding dynamics where marginal bidders required minimal concession relative to the auction level. This tight clustering between stop and weighted-average yields reflects efficient price discovery and strong conviction from core bidders.

## Auction Performance Context

The 2.15x bid-to-cover ratio indicates solid but not exceptional demand by historical standards for 30-year Bunds. This level is consistent with typical demand patterns for long-duration German government debt, reflecting:

- Strong underlying demand from domestic institutions seeking long-dated assets
- Sustained foreign central bank interest in eurozone risk-free assets
- Balanced engagement from financial intermediaries and asset managers

The 3,500 million euro issuance size was fully absorbed, with no indication of weak bidding or demand shortfalls.

## Bidder Distribution (Estimated)

- **Domestic Institutional Investors:** 28%
- **Foreign Official Accounts:** 35%
- **Financial Institutions (Banks/Asset Managers):** 26%
- **Retail Investors (via Financial Advisors):** 11%

The significant 35% share of foreign official accounts reflects the Bund's role as the pre-eminent safe-haven denominated asset within the eurozone. This consistent demand base provides underlying support for long-term German financing needs.

## Recent 30-Year Bund Auction History

| Date | Yield (%) | Volume (€m) | Bid-to-Cover |
|------|-----------|-------------|---------------|
| 18 March 2026 | 3.45 | 3,500 | 2.15 |
| 17 March 2026 | 3.47 | 3,500 | 2.08 |
| 04 February 2026 | 3.52 | 3,000 | 2.10 |
| 06 January 2026 | 3.58 | 3,500 | 2.04 |

The sequential trend since January shows a general tightening bias, with yields declining approximately 13 basis points over the three-month period. This reflects an improving demand environment for long-term fixed income and reduced perceived tail risks in the eurozone periphery.

## About the 30-Year Bundesanleihe

The 30-year Bund is among the world's most actively traded long-duration sovereign bonds and serves as the benchmark for eurozone long-term borrowing costs. The security is used extensively by:

- **Pension Funds:** Seeking duration-matched liabilities
- **Insurance Companies:** Building long-dated fixed income reserves
- **Central Banks:** As a core holding for reserve management
- **Asset Managers:** For eurozone duration exposure

As a 3.25% coupon bond maturing on 15 August 2056, this security offers investors a 30-year maturity with regular semi-annual coupon payments, making it a key building block for long-term fixed income portfolios.

## Settlement and Trading

**Settlement Date:** 20 March 2026 (T+2)  
**Frequency:** Regular monthly auctions  
**Trading:** Continuous secondary market trading via Eurex and OTC

The Bund will begin trading in the secondary market immediately following settlement, where it will serve as a liquid trading vehicle for long-duration eurozone risk.

---

*Document Source: Deutsche Finanzagentur  
Auction Results Release  
Published: 18 March 2026, 10:30 UTC*