Germany sells EUR 4.553bln vs exp. EUR 6bln 2.90% 2031 Bobl: b/c 1.48x, average yield 2.89%, retention 24.1%

The recent auction of Germany's 2.90% 2031 Bobl saw a weaker-than-expected demand with a bid-to-cover ratio of 1.48x versus expectations of EUR 6 billion. This lower retention rate of 24.1% alongside marginally high average yields could indicate a declining appetite for sovereign debt, suggesting potential upward pressure on yields going forward and impacting overall fixed income sentiment across the EU.