German Bond Auction Doesn't Go Very Smoothly

Matthias Steiner Germany drops weight neck

Photo: AP

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.

Photo: Bloomberg

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