“Disastrous” bond sale shakes confidence in Germany


By Stephen Brown and Noah Barkin – The Bundesbank was forced to retain almost half of a sale of 6 billion euros due to a shortage of bids by investors. The result pushed the cost of borrowing over 10 years for the bloc’s paymaster above those for the United States for the first time since October.

One senior ratings agency official said the rise in its own borrowing costs could even give Germany a pause to re-examine its refusal to embrace a broader solution to resolve the debt crisis. more> http://is.gd/GxT1Gg

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