By Laura Contemori – ROME (Econostream) – Germany’s Finance Agency on Tuesday allotted €4.553 billion of a new five-year federal note, or Bobl.

The agency allotted €4.553 billion of the 2.90% October 8, 2031 Bobl. Total bids amounted to €6.722 billion, producing a bid-to-cover ratio of 1.5.

The weighted average price was 100.02 and the average yield was 2.89%.

Of the €6 billion issue volume, the federal government retained €1.447 billion for its own account.

The value date is July 23.