German Note Yields Record Low at Sale as S&P Keeps AAA Grade
This article is for subscribers only.
Germany sold two-year notes at a record-low yield after ratings action by Standard & Poor’s on Jan. 13 left the nation holding the euro region’s only stable AAA grade.
The 0.25 percent securities maturing in December 2013 were sold at an average yield of 0.17 percent, down from 0.29 percent when the debt was last offered on Dec. 14, and the least since Bloomberg began collecting the data in 1996. The nation received bids for 7.596 billion euros ($9.73 billion) of the notes, exceeding the maximum sales target of 4 billion euros, the Bundesbank said in a statement. The auction success rate was 190 percent, the most since July 2011.