Germany sells 3.4bn euros at negative yield

BERLIN: Investors effectively paid the German government on Monday to put their money into six-month debt as they seek safety over returns against the backdrop of the euro zone's financial and debt crisis.

Germany sold 3.4 billion euros of a new 6-month Bubill at an auction, attracting more demand than at a previous sale in August, Bundesbank data showed.

The bid-to-cover ratio stood at 1.5 versus 1.3 for the August 13 auction. The average yield was -0.015 percent versus -0.05 percent at last month's sale.

The Bubill is due to mature on March 13, 2013. For a table on the auction results, please click on