Bund Yields Rise From Record Low After Ireland, Spain Sell Debt
This article is for subscribers only.
German 10-year bonds fell, sending yields up from a record low, after auction results suggested appetite for debt from Europe’s periphery is holding up, damping demand for the safest assets.
Irish securities climbed after the nation sold 1.5 billion euros ($1.9 billion) of bonds today, while Spain also auctioned 5.5 billion euros of bills. German bunds, Europe’s benchmark, snapped a run of four straight gains as the ZEW Center for European Economic Research’s gauge of current conditions rose more than analysts estimated, while its measure of German investor confidence dropped to a 16-month low in August.