Summary of Key Points Core Viewpoint - The document presents a summary of bids, sales, cut-off prices, pro rata allocations, and yields for specific bonds, indicating the financial performance and market conditions related to these securities [1]. Group 1: Bids and Sales - The total bids amounted to 3,360 million DKK, while total sales reached 2,250 million DKK, reflecting the demand and supply dynamics in the bond market [1]. - Specific bonds listed include: - ISIN 99 23724 DGBI 0.10% with a sale of 1,750 million DKK and a cut-off price of 97.27 [1]. - ISIN 99 9924961 DGB 2.25% with a sale of 1,610 million DKK and a cut-off price of 96.88 [1]. Group 2: Yield Information - The yield for ISIN 99 23724 DGBI 0.10% is reported at 0.64% per annum [1]. - The yield for ISIN 99 9924961 DGB 2.25% is reported at 2.60% per annum [1]. - The yields indicate the return investors can expect from these bonds, which is crucial for assessing investment attractiveness [1]. Group 3: Settlement Date - The settlement date for the transactions is set for 5 September 2025, which is important for investors to note for cash flow and investment planning [1].

Global Bond Market & Treasury Yields - Global bond issuance is a key factor influencing Treasury yields [1] - The market anticipates interest rates may remain elevated for an extended period [2] - The 20-year Treasury auction showed strong performance with the lowest net yield change on the curve, although rates initially dipped before rising again [2][3] Japanese Government Bonds (JGB) - Japan's role as a significant debt issuer is crucial to monitor [4] - JGB ten-year yield is around 1.58%, considered elevated [4] - The interest rate differential between JGBs and US Treasuries is influenced by currency exchange rates [5] Dollar Index - Despite a slight increase in interest rates, the dollar index did not strengthen significantly [5] - The dollar index's 3.5-year low close on July 2nd at 96.78 is a critical level to watch, as technicians may sell if it's breached [6]

Summary of Key Points Core Viewpoint - The document presents a summary of bids, sales, cut-off prices, pro rata allocations, and yields for specific bonds, indicating the financial performance and market interest in these securities [1]. Group 1: Bids and Sales - The total bids amounted to 2,070 million DKK, while total sales reached 1,550 million DKK, reflecting a strong demand for the bonds offered [1]. - The bond with ISIN 99 24458 DGB 0.10% had bids of 620 million DKK and sales of 600 million DKK, with a cut-off price of 93.04 [1]. - The bond with ISIN 99 24961 DGB 2.25% had bids of 1,450 million DKK and sales of 950 million DKK, with a cut-off price of 97.97 [1]. Group 2: Yield and Pro Rata - The yield for the bond with ISIN 99 24458 DGB 0.10% is reported at 0.87% per annum, while the yield for the bond with ISIN 99 24961 DGB 2.25% is at 2.47% per annum [1]. - Both bonds had a pro rata allocation of 100%, indicating that all bids were fully satisfied [1]. Group 3: Settlement Information - The settlement date for the transactions is set for June 6, 2025, which is crucial for investors to note for their financial planning [1].