Germany's 10-year bond auction drew an average yield of 3.26%, the highest in 15 years, reflecting a recent global rise in funding costs. The government sold €3.769bn of 10-year debt and retained €2.231bn; the 10-year yield was up 1bp at 3.26%. The bid-cover ratio was 1.15x, roughly unchanged from 1.14x at the prior sale. Earlier on Tuesday, a bank‑underwritten 30-year sale likewise set a 15-year high in average yield.

2026-08-19

Germany's 10-year bond auction drew an average yield of 3.26%, the highest in 15 years, reflecting a recent global rise in funding costs. The government sold €3.769bn of 10-year debt and retained €2.231bn; the 10-year yield was up 1bp at 3.26%. The bid-cover ratio was 1.15x, roughly unchanged from 1.14x at the prior sale. Earlier on Tuesday, a bank‑underwritten 30-year sale likewise set a 15-year high in average yield.