The yield on the one-year Treasury bills issued today by the ΟDDIX was noticeably lower, with investors already pricing in upcoming rate cuts from the ECB and the Fed.

Specifically, the yield on the 52-week €500 million bond issue was 2.82%, up from 3.34% at the previous corresponding auction on June 5. The total amount of bids received was €916 million, which was 1.83 times the amount requested. The yield on annual bonds fell to 2.82% - €500 million was raised.

The announcement from the ODDIX also notes that the auction was conducted through the primary dealers, and the settlement date is Friday, 6 September 2024. Bids were accepted up to the amount of the auctioned amount, as well as non-competitive bids of €100 million.