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2026-04-07 17:41:21
[Belgian Short-Term Bonds Sell Well, Rising Yields Highlight Funding Pressure] ⑴ Belgium auctioned €1 billion of treasury bills maturing in July 2026 on Tuesday, with an average yield of 2.167% and a bid-to-cover ratio of 1.97. ⑵ On the same day, it also auctioned €1.807 billion of treasury bills maturing in April 2027, with an average yield of 2.625% and a bid-to-cover ratio of 1.89. ⑶ The auction raised a total of €2.807 billion, within the €2.6 billion to €3 billion target range set by the Belgian debt agency. ⑷ The average yields of both treasury bill tranches were at relatively high levels in recent years, reflecting a significant increase in short-term financing costs against the backdrop of the ongoing war with Iran and high energy prices. However, the bid-to-cover ratios were close to 2, indicating that there is still stable demand for Belgian short-term bonds.
