A flatter curve hasn't dented investor appetite in AAA-rated Australia, which recently drew a bid-to-cover ratio
of 3.69 for May 2030 notes.
We have received more than thrice bid-to-cover ratio
'We saw demand at the long end considering that we had a decent noncompetitive bid, and the bid-to-cover ratio
is 1.4 times, so it's a good turnout actually,' Sta.
A total of 1,040 billion won of orders (a bid-to-cover ratio
of 208.0%) were placed with a range of bids from 2.200 percent to 2.620 percent.
Strong demand for the five-year security set the coupon at 4.625% with total tenders reaching P191.8 billion for a bid-to-cover ratio
Therefore, we introduce some variables that may influence the bidding behavior such as bid-to-cover ratio
, liquidity uncertainty, interest rate expectations, and banks' heterogeneity in terms of liquidity position.
The participants showed high interest in the auction and the subscription totaled BGN 197.50 million, the bid-to-cover ratio
"Investors were very supportive of the pricing initiative as the order book recorded bid-to-cover ratio
of more than 2 times and competitively priced with weighted average spread of 37 basis points and 50 basis points above the corresponding Government Investment Issues (GII) and Malaysian Government Securities (MGS) respectively," Chung added.
Before the Federal Reserve began its unprecedented stimulus in 2008, the bid-to-cover ratio
never topped 2.65.
The bid-to-cover ratio
for the benchmark bond was lower at 3.5x at the auction and 2x at the non-competitive sales, respectively.
The sale drew bids of 3.33 times the amount offered, down from the previous sale's bid-to-cover ratio
of 3.52 times, and the tail between the average and lowest accepted prices was 0.16, matching that at last month's offering.
Demand was 1.5 times the offer, down from the bid-to-cover ratio
of 1.67 at the October 2012 sale of the similar bond.