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Europe Update: German Bond Auction
Rates fell at the latest bund auction held in Germany. The country sold €3.15 billion of 5-year bonds at an average yield of 0.9%.
The rate is down from the prior auction’s yield of 1.11%.
The bid-to-cover rate suggests strong demand for the auction at 2.8, which is above the prior rate of 2.1.
Recall that yields on German T-Bills were actually negative yesterday in response to investor demand for safety in the region.
iShares Germany - Last 12 Month
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