German 10-year bonds drop following auction

German 10-year government bunds contracted as the Germany auctioned 3.19 billion euros of the securities. German 10-year note yield advanced three basis points to 1.58% and the 1.5% security maturing in May 2023 decreased 0.255 to 99.29. Two-year bund yields jumped one basis point to 0.1%. Germany auctioned bonds at an average 1.57% yield.