Germany sells EUR 4.630bln vs exp. EUR 6bln 2.50% 2028 Schatz: b/c 1.4x (prev. 1.7x), average yield 2.70% (prev. 2.47%), retention 22.8%

Germany's recent issuance of EUR 4.63 billion in 2028 Schatz was below expectations of EUR 6 billion, indicating weaker demand with a bid-to-cover ratio of 1.4x compared to the previous 1.7x. The average yield increased to 2.70%, suggesting rising borrowing costs and potentially impacting investor sentiment towards future auctions.