Bonds in Europe Tumble as Green Debt Leads Rush of Supply
- Orders for German 30-year tenor set new record amid selloff
- Conventional 30-year yields climb to highest since 2019
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A ramp-up in debt sales in Europe, led by Germany’s sale of its first 30-year green bonds, sent yields jumping across the region.
The country racked up record orders of more than 38.9 billion euros ($47 billion) for its 6 billion-euro offering. The sale comes alongside placements from the Netherlands and the U.K., helping push conventional German 30-year yields to their highest since 2019. Benchmark Italian yields headed toward 1% for the first time since September as traders bet an economic recovery will spur inflation.