Germany 10-year Bund Yield Falls To Record Low In Auction

Germany 10-year Bund Yield Falls To Record Low In Auction


The yield on Germany's 10-year bond fell to a record low at an auction on Wednesday, as investors continued their flight to safety from the worrying prospects of Spain and Italy.
The country raised EUR 4.152 billion from the sale of its 1.75 percent July 2022 bund against a target of EUR 5 billion set for the sale, Bundesbank said. The auction attracted bids totaling EUR 6.391 billion.
The average yield fell to a record low 1.31 percent from 1.52 percent in the previous sale on June 13. The lowest accepted price and the weighted average price was the same at 104.11 percent.
The bid-to-cover ratio, which reflects demand, rose to 1.5 from 1.4 in June.


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