Germany sells EUR 4.604bln vs exp. EUR 6bln 2.90% 2036 Bund: b/c 1.65x (prev. 1.29x), average yield 2.85% (prev. 2.83%), retention 23.3% (prev. 24.3%)

Germany sells EUR 4.604bln vs exp. EUR 6bln 2.90% 2036 Bund: b/c 1.65x (prev. 1.29x), average yield 2.85% (prev. 2.83%), retention 23.3% (prev. 24.3%)

The German auction saw a weaker-than-expected issuance, selling EUR 4.604 billion against an expectation of EUR 6 billion. Despite this, the bid-to-cover ratio improved, indicating stronger demand relative to recent auctions, while the average yield slightly increased. This could signal a shift in investor sentiment around German debt, with implications for future rate expectations and overall risk appetite in the fixed income market.