The yield of Germany's 2-year government bond rises at auction, bid-to-cover ratio declines.

⑴ The German central bank auctioned approximately 3.8 billion euros of 2-year government bonds on Tuesday as an increase to the existing tranche. ⑵ The average yield at this auction was 3.27%, higher than the previous 2.85%. ⑶ The bid-to-cover ratio was 1.3, lower than the previous 1.5. ⑷ The rise in awarded yield and the decline in the bid-to-cover ratio reflect a weakening of investor demand for German bonds of this maturity against the backdrop of global bond market selling pressure.