Germany sells 3.294bn euros

BERLIN: Germany sold 3.294 billion euros of five-year debt in a top-up auction on Wednesday, attracting far more demand than at a previous sale last month as the euro zone debt crisis continues to drive investors into safe haven assets.

The bid-to-cover ratio stood at 2.7, much higher than the 1.6 seen in an auction on June 6, Bundesbank data showed. The average yield was 0.52 percent versus 0.41 percent in June.

The 0.5 percent Bobl notes are due to mature on April 7, 2017. The settlement date is July 6. For a table on the auction results, please click on