--- source: Deutsche Finanzagentur (German Finance Agency) url: https://www.deutsche-finanzagentur.de/fileadmin/user_upload/Institutionelle-investoren/auktionen/emissionsergebnisse_aktuell_en.pdf document_type: pdf date_retrieved: 2026-05-04T10:06:40.355552+00:00 period: Auction date: 2026-05-04 parent_publication: Federal securities auction results indicators_covered: ["9-Month Bubill yield", "Auction details"] --- # 9-Month Bubill Auction — 2026-05-04 ## Source document (full extracted text) ``` Auction Results Non- Bid- Issuance Competi- Allotted Lowest Weighted Retention Maturity- Issuance Bids competi- Average to- No. Date ISIN 1 Coupon Maturity volume 2 tive Bids Volumes accepted Average Quote Bond segment Type 6 (€ m) tive Bids 4 Cover- (€ m) process (€ m) (€ m) Price 3 Yield (%) (€ m) (€ m) Price 5 Ratio 1 2026-01-05 DE000BU0E287 Bubill 2026-04-15 12 M 2,000 R M-A 3,590 2,510 1,080 1,400.00 99.46147 99.46174 1.988 600.00 2.6 1 2026-01-05 DE000BU0E345 Bubill 2026-10-14 12 M 2,000 R M-A 3,885 3,085 800 1,140.00 98.46299 98.46450 2.005 860.00 3.4 2 2026-01-06 DE000BU22114 Schatz 2.00% 2027-12-16 2Y 6,000 R Auc 8,765 5,235 3,530 4,547.00 99.79 99.791 2.11 1,453.00 1.9 3 2026-01-07 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 6,000 N Auc 5,875 1,885 3,990 4,542.10 100.58 100.60 2.83 1,457.90 1.3 4 2026-01-12 DE000BU0E311 Bubill 2026-07-15 12 M 2,000 R M-A 3,949 3,604 345 1,569.00 99.00198 99.00595 1.986 431.00 2.5 4 2026-01-12 DE000BU0E360 Bubill 2027-01-13 12 M 3,000 N M-A 5,990 4,035 1,955 2,465.00 98.01203 98.01398 2.004 535.00 2.4 5 2026-01-13 DE000BU25067 Bobl 2.50% 2031-04-16 5Y 6,000 N Auc 6,483 2,745 3,738 4,596.60 100.16 100.16 2.47 1,403.40 1.4 6 2026-01-14 DE0001135432 Bund 3.25% 2042-07-04 30 Y 1,000 R M-A 799 255 544 700.92 100.17 100.23 3.23 299.08 1.1 6 2026-01-14 DE0001102572 Bund 0.00% 2052-08-15 30 Y 1,000 R M-A 1,235 526 709 809.37 40.56 40.58 3.45 190.63 1.5 6 2026-01-14 DE000BU2D012 Bund 2.90% 2056-08-15 30 Y 1,000 R M-A 1,722 537 1,185 822.45 89.69 89.70 3.45 177.55 2.1 7 2026-01-19 DE000BU0E303 Bubill 2026-06-17 12 M 2,000 R M-A 3,992 3,120 872 1,522.00 99.19638 99.19678 1.983 478.00 2.6 7 2026-01-19 DE000BU0E378 Bubill 2026-12-09 12 M 3,000 N M-A 6,305 4,930 1,375 2,105.00 98.24514 98.24773 1.994 895.00 3.0 8 2026-01-21 DE000BU2F009 Bund 2.60% 2041-05-15 15 Y 1,000 R M-A 2,024 805 1,219 776.03 92.51 92.52 3.23 223.97 2.6 8 2026-01-21 DE000BU2D012 Bund 2.90% 2056-08-15 30 Y 1,000 R M-A 1,897 605 1,292 785.56 88.89 88.95 3.49 214.44 2.4 9 2026-01-27 DE000BU22122 Schatz 2.10% 2028-03-15 2Y 6,000 N Auc 9,777 4,060 5,717 4,632.65 99.925 99.925 2.14 1,367.35 2.1 2026-01-27 DE000BU2T000 Bund 3.40% 2047-05-15 20 Y 6,500 N Syn 5,500.00 99.921 3.404 1,000.00 10 2026-01-28 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 6,000 R Auc 7,606 3,851 3,755 4,604.40 100.43 100.44 2.85 1,395.60 1.7 11 2026-02-02 DE000BU0E295 Bubill 2026-05-13 12 M 2,000 R M-A 5,560 4,235 1,325 1,625.00 99.46254 99.46254 1.985 375.00 3.4 11 2026-02-02 DE000BU0E352 Bubill 2026-11-18 12 M 2,000 R M-A 6,460 5,085 1,375 1,660.00 98.43985 98.44062 1.987 340.00 3.9 12 2026-02-03 DE000BU3Z047 Green 2.50% 2035-02-15 10 Y 1,500 R Auc 2,719 1,070 1,649 1,353.87 97.73 97.74 2.79 146.13 2.0 13 2026-02-04 DE000BU27014 Bund 2.50% 2032-11-15 7Y 4,000 R Auc 4,819 2,625 2,194 3,196.62 99.34 99.35 2.60 803.38 1.5 14 2026-02-09 DE000BU0E311 Bubill 2026-07-15 12 M 2,000 R M-A 4,745 3,745 1,000 1,925.00 99.1618 99.16180 1.976 75.00 2.5 14 2026-02-09 DE000BU0E360 Bubill 2027-01-13 12 M 2,000 R M-A 4,867 3,927 940 1,677.00 98.18193 98.18373 1.982 323.00 2.9 15 2026-02-10 DE000BU25067 Bobl 2.50% 2031-04-16 5Y 5,000 R Auc 6,297 2,752 3,545 3,811.05 100.48 100.48 2.40 1,188.95 1.7 16 2026-02-11 DE000BU2D004 Bund 2.50% 2054-08-15 30 Y 1,000 R M-A 1,157 615 542 749.48 82.63 82.67 3.47 250.52 1.5 16 2026-02-11 DE000BU2D012 Bund 2.90% 2056-08-15 30 Y 1,500 R M-A 1,893 931 962 1,160.42 89.25 89.26 3.47 339.58 1.6 17 2026-02-16 DE000BU0E329 Bubill 2026-08-19 12 M 2,000 R M-A 4,615 3,520 1,095 1,600.00 99.01041 99.01140 1.975 400.00 2.9 17 2026-02-16 DE000BU0E386 Bubill 2027-02-17 12 M 3,000 N M-A 5,155 3,405 1,750 2,375.00 98.03243 98.03243 1.985 625.00 2.2 18 2026-02-17 DE000BU22122 Schatz 2.10% 2028-03-15 2Y 6,000 R Auc 8,147 3,935 4,212 4,590.24 100.15 100.152 2.02 1,409.76 1.8 19 2026-02-18 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 5,500 R Auc 6,197 2,898 3,299 4,238.07 101.43 101.44 2.73 1,261.93 1.5 20 2026-02-25 DE0001102598 Bund 1.00% 2038-05-15 15 Y 1,000 R M-A 1,592 590 1,002 821.04 80.38 80.39 2.93 178.96 1.9 20 2026-02-25 DE000BU2F009 Bund 2.60% 2041-05-15 15 Y 1,000 R M-A 2,299 850 1,449 853.17 94.07 94.08 3.09 146.83 2.7 21 2026-03-02 DE000BU0E303 Bubill 2026-06-17 12 M 2,000 R M-A 5,085 3,600 1,485 1,835.00 99.42726 99.42726 1.975 165.00 2.8 21 2026-03-02 DE000BU0E378 Bubill 2026-12-09 12 M 2,000 R M-A 4,460 3,115 1,345 1,705.00 98.47808 98.47808 1.987 295.00 2.6 22 2026-03-03 DE000BU25067 Bobl 2.50% 2031-04-16 5Y 5,000 R Auc 4,569 1,635 2,934 3,825.32 100.3 100.31 2.43 1,174.68 1.2 2026-03-03 DE000BU2F009 Bund 2.60% 2041-05-15 15 Y 1,000 R OH 1,000.00 2026-03-03 DE000BU3F007 Green 2.60% 2041-05-15 15 Y 4,000 N Syn 3,000.00 93.552 3.140 1,000.00 23 2026-03-04 DE000BU3Z005 Green 2.30% 2033-02-15 10 Y 1,000 R Auc 1,690 890 800 960.00 98.58 98.58 2.53 40.00 1.8 24 2026-03-09 DE000BU0E329 Bubill 2026-08-19 12 M 2,000 R M-A 1,373 990 383 583.00 99.06079 99.06299 2.115 1,417.00 2.4 24 2026-03-09 DE000BU0E386 Bubill 2027-02-17 12 M 2,000 R M-A 3,738 2,160 1,578 989.00 97.87112 97.87477 2.279 1,011.00 3.8 25 2026-03-10 DE000BU22122 Schatz 2.10% 2028-03-15 2Y 5,000 R Auc 6,214 2,310 3,904 3,871.08 99.67 99.674 2.27 1,128.92 1.6 26 2026-03-11 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 5,000 R Auc 4,511 1,960 2,551 3,811.00 100.02 100.05 2.89 1,189.00 1.2 27 2026-03-16 DE000BU0E337 Bubill 2026-09-16 12 M 2,000 R M-A 6,092 4,232 1,860 1,472.00 98.9386 98.93909 2.121 528.00 4.1 27 2026-03-16 DE000BU0E394 Bubill 2027-03-17 12 M 3,000 N M-A 5,550 3,425 2,125 2,325.00 97.75628 97.75628 2.270 675.00 2.4 28 2026-03-18 DE0001102341 Bund 2.50% 2046-08-15 30 Y 1,000 R M-A 1,899 691 1,208 757.36 87.45 87.47 3.36 242.64 2.5 28 2026-03-18 DE000BU2D012 Bund 2.90% 2056-08-15 30 Y 1,500 R M-A 1,961 890 1,071 1,148.28 89.66 89.70 3.45 351.72 1.7 29 2026-03-24 DE000BU25067 Bobl 2.50% 2031-04-16 5Y 5,000 R Auc 3,858 1,445 2,413 3,548.00 98.94 98.97 2.72 1,452.00 1.1 30 2026-03-25 DE000BU2F009 Bund 2.60% 2041-05-15 15 Y 1,000 R M-A 2,037 842 1,195 866.05 91.87 91.88 3.29 133.95 2.4 30 2026-03-25 DE0001102572 Bund 0.00% 2052-08-15 30 Y 1,000 R M-A 1,401 692 709 859.57 41.19 41.20 3.42 140.43 1.6 31 2026-03-30 DE000BU0E311 Bubill 2026-07-15 12 M 2,000 R M-A 3,767 2,623 1,144 1,892.00 99.37596 99.37654 2.151 108.00 2.0 31 2026-03-30 DE000BU0E360 Bubill 2027-01-13 12 M 3,000 R M-A 4,845 3,073 1,772 2,923.40 98.05739 98.06045 2.481 76.60 1.7 32 2026-03-31 DE000BU22122 Schatz 2.10% 2028-03-15 2Y 5,000 R Auc 5,735 2,800 2,935 3,811.00 99.005 99.014 2.62 1,189.00 1.5 33 2026-04-01 DE000BU27014 Bund 2.50% 2032-11-15 7Y 4,000 R Auc 3,387 1,390 1,997 3,052.00 98.31 98.33 2.78 948.00 1.1 34 2026-04-07 DE000BU3Z047 Green 2.50% 2035-02-15 10 Y 750 R M-A 979 422 557 659.00 96.66 96.66 2.93 91.00 1.5 34 2026-04-07 DE0001101034 Green 0.00% 2050-08-15 30 Y 750 R M-A 532 275 257 387.00 43.88 43.90 3.44 363.00 1.4 35 2026-04-08 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 5,000 R Auc 4,719 2,538 2,181 3,817.19 99.77 99.78 2.92 1,182.81 1.2 36 2026-04-13 DE000BU0E345 Bubill 2026-10-14 12 M 2,000 R M-A 5,932 3,817 2,115 1,895.00 98.84565 98.84565 2.310 105.00 3.1 36 2026-04-13 DE000BU0E402 Bubill 2027-04-14 12 M 3,000 N M-A 5,537 3,490 2,047 2,317.00 97.51819 97.51819 2.517 683.00 2.4 37 2026-04-14 DE000BU25067 Bobl 2.50% 2031-04-16 5Y 5,000 R Auc 4,113 2,115 1,998 3,953.04 98.86 98.88 2.74 1,046.96 1.0 38 2026-04-15 DE0001102432 Bund 1.25% 2048-08-15 30 Y 1,500 R M-A 2,166 1,352 814 1,261.02 64.9 64.93 3.55 238.98 1.7 38 2026-04-15 DE0001102572 Bund 0.00% 2052-08-15 30 Y 500 R M-A 748 557 191 463.00 39.71 39.75 3.57 37.00 1.6 38 2026-04-15 DE000BU2D012 Bund 2.90% 2056-08-15 30 Y 1,000 R M-A 1,128 581 547 779.31 87.48 87.49 3.58 220.69 1.4 39 2026-04-20 DE000BU0E337 Bubill 2026-09-16 12 M 2,000 R M-A 4,496 2,705 1,791 1,889.52 99.13213 99.13253 2.143 110.48 2.4 39 2026-04-20 DE000BU0E394 Bubill 2027-03-17 12 M 2,000 R M-A 3,667 2,725 942 1,892.00 97.91942 97.91942 2.325 108.00 1.9 40 2026-04-21 DE000BU22130 Schatz 2.50% 2028-06-14 2Y 6,000 N Auc 7,237 3,640 3,597 4,282.00 100.055 100.059 2.47 1,718.00 1.7 41 2026-04-22 DE000BU2F009 Bund 2.60% 2041-05-15 15 Y 1,000 R M-A 2,615 963 1,652 963.44 91.31 91.33 3.34 36.56 2.7 41 2026-04-22 DE000BU2T000 Bund 3.40% 2047-05-15 20 Y 1,000 R M-A 2,253 1,678 575 957.50 98.9 98.92 3.47 42.50 2.4 42 2026-04-29 DE000BU2Z064 Bund 2.90% 2036-02-15 10 Y 5,000 R Auc 5,744 3,250 2,494 3,834.36 98.51 98.52 3.08 1,165.64 1.5 43 2026-05-04 DE000BU0E329 Bubill 2026-08-19 12 M 2,000 R M-A 4,912 3,140 1,772 1,894.80 99.3725 99.37279 2.164 105.20 2.6 Auction Results Non- Bid- Issuance Competi- Allotted Lowest Weighted Retention Maturity- Issuance Bids competi- Average to- No. Date ISIN 1 Coupon Maturity volume 2 tive Bids Volumes accepted Average Quote Bond segment Type 6 (€ m) tive Bids 4 Cover- (€ m) process (€ m) (€ m) Price 3 Yield (%) (€ m) (€ m) Price 5 Ratio 43 2026-05-04 DE000BU0E386 Bubill 2027-02-17 12 M 3,000 R M-A 5,675 4,160 1,515 2,165.00 98.05126 98.05509 2.488 835.00 2.6 Sum: 194,000 275,041 158,142 116,899 150,798.28 1.8 Sources: Federal Republic of Germany - Finance Agency, Deutsche Bundesbank 1 Bund = Federal bond, Bobl = Five-year Federal note, Schatz = Federal Treasury note, Bubill = Federal discount paper, Green = Green Federal security, ILB = inflation linked Federal bond or note 2 N = new issue, R = reopening 3 calculated from volume weighted prices of allotted bids 4 yield of average price 5 relation between total bidding volume and total allotted volume 6 Auc = Auction, Syn = Syndicate, M-A = Multi-ISIN, OH = Tap into own holdings ``` ## Key data for event 417498 - **ISIN:** DE000BU0E386 - **Auction date:** 2026-05-04 - **Maturity:** 2027-02-17 - **Security type:** Bubill (Federal discount paper) - **Issuance volume:** €3,000 million - **Allotted volume:** €2,165.00 million - **Weighted average yield:** 2.488% (actual) - **Previous auction yield:** 2.481% (from 2026-03-30) - **Bid-to-cover ratio:** 2.6