Strong demand for German treasury note issue: Bundesbank

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Germany sold 4.18 billion euros ($5.4 billion) of two-year treasury notes in its last such auction this year and demand for the paper was strong, the Bundesbank said on Wednesday.

The German central bank said it received bids totalling 5.98 billion euros for the 5.0 billion euros worth of two-year "Schatz" bonds on offer, with the Bundesbank itself retaining 820 million euros for market-tending purposes.

The average yield or return on the bonds stood at 0.29 percent, lower than the 0.39 percent paid at the previous auction last month.

© 2011 AFP

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