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2026-02-17 19:31:46
[ESM Issues €1.084 Billion in Six-Month Notes, Average Yield 1.999%] ⑴ The European Stability Mechanism (ESM) successfully auctioned a tranche of six-month notes through the German central bank on Tuesday. Data shows the issuance size was €1.084 billion. ⑵ In terms of pricing, the average yield of this auction was 1.999%, indicating that the short-term financing costs for core Eurozone institutions remain at this level under the current interest rate environment. ⑶ Regarding market demand, the subscription multiple for this tranche was 2.5 times, indicating relatively stable investor demand for ESM short-term bonds. As the Eurozone's permanent bailout fund, ESM bond issuances are considered one of the reference indicators for measuring market interest in Eurozone safe-haven assets.
