Borrowing costs grow as Germany sells its debt

On Wednesday, Germany witnessed an increase in its borrowing costs, as it was selling its 5-year government debt on an auction. Germany's Treasury managed to sell debt worth EUR3.97 billion in 5-year notes, having the average yield of 0.61%, compared to the yield of 0.31% during a similar auction in August. Demand exceeded supply only 1.4 times.