Germany sells 5-year bonds at a record low borrowing costs

On Wednesday, Germany witnessed a fall of the borrowing costs to a new record low during an auction of 5-year government bonds. Germany's Treasury sold 5-year government bonds for EUR3.978 billion at an average of 0.41%, which is less than an average yield of 0.56% in the previous month. However, demand was dim, exceeding supply only 1.6 times.