German 5-Year Bond Auction Result ‘Positive,’ Agency Says

The result of an auction of German five-year bonds today that gained fewer bids than were available is “still positive” for the government, Joerg Mueller, spokesman for the Federal Finance Agency in Frankfurt said in an interview. The bid-cover ratio was 1.0.

German five-year notes declined after the auction as yields at the sale fell to the lowest on record, according to data compiled by Bloomberg.

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