A sale of two-year German government bonds on Tuesday was the first technically failed auction of its maturity since last November, Germany’s debt management agency said.
Just over 3 billion euros of bids were received for Germany’s two-year auction earlier on Tuesday, below the 4 billion euro target.
That makes it the first technical failure at an auction of two-year bonds since November, a spokeswoman for Germany’s debt management office told Reuters.
She said the last failed auction for a German bond of any maturity was a five-year bond sale earlier this month.
The premium investors demand to hold French bonds fell to a two-month low this morning. An opinion poll showed centrist Emmanuel Macron has more than a 20 point lead over far-right, eurosceptic Marine Le Pen for the final vote in May. Francois Fillon is also seen comfortably beating Le Pen in a run-off despite scandals surrounding the Conservative candidate.
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Dean Popplewell
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