Germany 10-Year Bond Auction comes in at 3.26%

The Germany 10-Year Bond Auction, released today, showed an actual yield of 3.26%. This figure is lower than the previous auction’s yield of 3.29%. No consensus figure was available for this release.

Following the release, market reaction across EUR pairs has been limited over the first 15 minutes. EURAUD moved +2.1 pips, EURCAD +1.6 pips, and EURUSD +2.6 pips. EURCHF moved -1.5 pips, EURGBP -0.7 pips, and EURJPY -0.4 pips. EURNZD moved +1.8 pips. These initial moves are small when compared to typical 1-hour movements observed after past releases. For instance, EURUSD typically sees a median 1-hour move of 6 pips, while EURAUD typically moves 8 pips over the same period.