Belgian, Austrian Bonds Fall as Demand for Euro-Area Debt Wanes
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Belgian and Austrian bonds led declines among euro-area government debt as investors bet gains that pushed yields of so-called semi-core markets to record lows were too rapid given the outlook for rising supply.
Dutch 10-year yields climbed the most in three weeks as the nation sold 2.04 billion euros ($2.67 billion) of 20-year bonds at an auction. German two-year notes dropped for a third day before the country sells an additional 5 billion euros of the securities tomorrow. Italy will auction 11 billion euros of bills tomorrow as well as bonds the following day. Finland sold 10-year bonds through banks, while the European Financial Stability Facility sold 8 billion euros of five-year notes.