German New Bond Sales Cut to 13-Year Low on Budget Goal
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Chancellor Angela Merkel’s government reduced planned sales of German bonds to the lowest in more than a decade as she pushes to meet a campaign pledge to balance the budget next year.
The federal government will sell 185.5 billion euros ($231 billion) in bonds and bills in 2015, 15.5 billion euros less than this year, the Frankfurt-based Federal Finance Agency said in an e-mailed statement. All of the issuance will be used to refinance or redeem debt, according to the agency’s data.