German 30-Year Bond Yield Near Three-Week High After Auction
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German 30-year bond yields were near the highest in more than three weeks after a sale of the securities failed to attract enough bids to cover the 4 billion euros ($5.1 billion) offered.
Ten-year bund yields were little changed as better-than-estimated earnings from Apple Inc. and Fiat SpA pushed the Stoxx Europe 600 Index up 1.4 percent, curbing demand for the safety of fixed income. Total bids at today’s auction of 3.25 percent, 30-year bonds were 3.764 billion euros, and the Bundesbank retained 805 million euros of the offering, giving the sale a so-called bid-to-cover ratio of 1.2. Irish, Spanish and Portuguese 10-year yields fell relative to bund yields.