Bloomberg News

German 30-Year Bonds Drop as Bids at Auction Miss Maximum Target

October 12, 2011

Oct. 12 (Bloomberg) -- German bonds extended declines after the nation failed to attract bids covering the maximum target at an auction of 30-year securities today.

The yield on bonds due in July 2042 rose five basis points to 2.86 percent at 10:11 a.m. in London.

Germany drew bids for 1.78 billion euros ($2.5 billion) of the 30-year debt on sale today, compared with a maximum sales target of 2 billion euros, according to a statement from the Bundesbank.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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