Forex - Eurozone Bond Flows: New Dutch 10y DSL 0.75% 07/28 priced at +16.5bp over 10y Bunds

 12:08 (GMT) 13 Mar

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The Dutch State Treasury Agency sold today EUR 5.85bn of the new 10y DSL 0.75% 07/28. The bond was issued through the Dutch Direct Auction System at a price of 99.60, implying a yield of 0.791% which corresponds to a spread over the Bund 05% 02/28 of +16.5bp which is at the bottom of the revised spread guidance of +16.5-17.5bp where we see the bond as fairly valued relative to both the Dutch and German curves. Demand for the bond totalled up to EUR 18.9bn by the closing of the books.

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