Germany sells EUR 3.8bln vs exp. EUR 5bln 2.90% 2036 Bund: b/c 1.15x (prev. 1.24x), average yield 3.08% (prev. 2.92%), retention 23.3% (prev. 23.66%)

The auction results indicate weaker demand for the Bund than expected, with a bid-to-cover ratio falling to 1.15x from 1.24x previously, suggesting deteriorating appetite among investors. The increase in average yield from 2.92% to 3.08% further reflects concerns about rising rates and inflation expectations, which could impact overall market sentiment and future borrowing costs in the Eurozone.