German Bunds Pare Advance on Report of Cyprus Deposit Guarantees

German government bonds pared an advance as state-run broadcaster CYBC reported Cyprus Popular Bank Plc will be shut down with proceeds from the sale of good assets to be returned to depositors.

The rate on 10-year bunds was two basis points lower to 1.37 percent at 3:53 p.m. London time, after falling as much as four basis points to 1.35 percent.

Cyprus’s central bank told CYBC that it hasn’t been informed or taken such a decision.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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