Bunds Halt Three-Day Gain as Germany Agrees to Work With France
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German 10-year bonds halted a three-day advance after Finance Minister Wolfgang Schaeuble said Germany and France will work together to help fix the crisis in the euro zone, damping demand for the safest assets.
Two-year German yields climbed toward the highest level in seven weeks after the country sold 1.975 billion euros ($2.48 billion) of 12-month bills. Spanish 10-year bonds rose amid speculation European leaders are making progress on containing the debt crisis. European Central Bank President Mario Draghi may provide hints on future policy when he speaks at the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, on Sept. 1.