Germany just sold 3.19 billion euros worth of bonds maturing in 2022. This was well below the target to sell 5 billion euros worth of debt.The average borrowing cost was 1.52%, which was higher than the 1.42% yield at a previous auction for similar debt.
Markets continue to be deep in the red in Europe.
The German stock market is down over 1%.
Here’s a five year look at the German 10-Year yield.
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