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Germany 10-Year Bond Sale Sees Lowest Yield Ever

Reuters
Wednesday, 21 Sep 2011 | 5:59 AM ET

Germany sold 4.188 billion euros of 10-year government bonds on Wednesday in an auction that attracted greater demand than at a previous sale and sent borrowing costs to a record low in the category.

Bundesbank data showed the auction drew bids for 1.5 times the amount on offer compared with 1.4 times at a previous sale in August, with a lowest price of 103.99.

The average yield on the bond was 1.8 percent, down from 2.15 percent last time.

Germany's Finance Agency, which issued the bonds, said the auction was the first ever sale of 10-year debt with average yields of under 2 percent.

Contact Europe: Economy

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