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Wednesday, 4 January 2012

European bond auctions results

European bond auctions failed to inspire currency traders and USD regained it's ground.

Here the numbers: Germany sold EUR 4.057bn of 10-yr maturity at an average yield of 1.93%, short of the target  EUR 5bn. Portugal sold the targeted €1 bn at a yield 4.346% (versus previous 4.873%). Meanwhile, the ECB seems to be cheating again, buying Spanish and Italian bonds,- but there are no takers this time.

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