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Weak Debt Auctions In Europe

The Euro just can not catch a break. After a decent recovery on Tuesday, today the common currency lost all of those gains and is once more near the lows from last week. One thing surely not in favor of EUR is weak result of the German Bund auction. Germany tried to raise 7 billion EUR, in 5 year Bunds, but attracted bids for less than that and, eventually, sold only 5.45 billion EUR. This is considered a failed auction, and indicates higher interest rates ahead for German debt. Not a good sign for the Euro.<a href="http://www.istock″>[More...]


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