Germany sells €6 billion in 2-year notes at 3.1% yield

Germany sells €6 billion in 2-year notes at 3.1% yield

Germany’s Finance Agency sold €6 billion in 2-year federal notes maturing in September 2028 at an average yield of 3.1%. The bid-to-cover ratio stood at 1.1, signaling weak demand. Following the auction results, the 2-year German bond yield rose 2.2 basis points to 3.0767%.