Germany’s benchmark 10-year government bond yield rose to a three-week high on Monday, with yields across the euro area edging higher as investors braced for a deluge of new bond supply this week.
Investors often push bond prices lower to make way for new supply and January tends to be one of the busiest months of the year for bond sales. The Netherlands, Austria, Germany and Italy are all scheduled to hold auctions this week.
The German 10-year Bund yield rose to 0.323 percent in early trade, up 2 basis points on the day and its highest level in three weeks.
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