Bloomberg News

German Bond Auction Today Mirrors Market Jitters, Agency Says

October 19, 2011

Oct. 19 (Bloomberg) -- Germany’s auction today of a benchmark 10-year top-up bond that gained bids lower than the volume offered mirrors the “increased nervousness” of the market, the Federal Finance Agency said in an e-mail after the auction.

The top-up sale had a bid/cover ratio of 1.1, or 4.5 billion euros. Demand for German debt “endures in a volatile market,” the agency said.

To contact the editor responsible for this story: Brian Parkin at bparkin@bloomberg.net


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