By Dave Kansas
German bunds are considered the gold standard of Europe. But for now, investors don’t seem all that interested.
For the third consecutive auction, investors didn’t sign up for the full allotment. The rock-bottom yields for German bunds is the perhaps the main reason investors are chary about buying German debt. Another reason could be the simmering concerns about the euro zone and Germany’s role as continental ATM.
Still, markets are taking the German auction in stride for the most part. More focus is on the U.S. where Treasurys have staged a dramatic retreat this week. The U.S. is auctioning $21 billion in 10-year notes today. Maybe they will have better luck than the Germans.
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