German Bunds Extend Decline as ECB Allots $645 Billion in Three-Year Loans
Ten-year German yields advanced seven basis points to 2.03 percent at 10:26 a.m. London time. Two-year note yields rose two basis points to 0.24 percent.
French 10-year bonds rose, pushing the yield down three basis points to 3.08 percent.
The Frankfurt-based ECB awarded 489 billion euros in 1,134- day loans, more than economists’ median estimate of 293 billion euros in a Bloomberg News survey. The ECB said 523 banks asked for the funds, which will be lent at the average of its benchmark rate, currently 1 percent, over the period of the loans. They start tomorrow.
To contact the reporter on this story: Emma Charlton in London at email@example.com
To contact the editor responsible for this story: Daniel Tilles at firstname.lastname@example.org