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German Government Bond Slump Enters Eighth Day

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German government bonds extended losses into an eighth day amid a slump that has helped wipe $436 billion off the global fixed-income market in the past week.

The selloff in European sovereign securities deepened on Thursday after French and Spanish debt sales added 13 billion euros ($14.7 billion) of supply into the market. The global rout expanded around the world, infecting Japan as investors returned from a three-day holiday, Australia, where bonds are suffering the longest stretch of losses in 15 years, and Poland, where the government canceled an auction of local-currency securities.