Weak demand at Germany's 30-year bond auction
Germany's Green 30Y auction on 2026-10-20 showed weak demand: bid-to-cover 1.60x vs. a recent average of 1.98x. Bids totalled €803m for €500m on offer. Average yield 3.790%, vs. 3.800% at the previous 30-year auction on 2026-10-14.
Recent readings — Germany 30Y bid-to-cover, recent auctions
| vs. previous | ||
| Oct 20, 2026 | 1.60x | ▲ +14.3% |
| Oct 14, 2026 | 1.40x | ▼ -12.5% |
| Sep 23, 2026 | 1.60x | ▼ -33.3% |
| Sep 16, 2026 | 2.40x | ▼ -33.3% |
| Aug 26, 2026 | 3.60x | ▲ +176.9% |
| Aug 12, 2026 | 1.30x | — |
Why this matters
Every government that borrows has to find buyers at auction. When demand thins out - fewer bids, a wider tail, or the government keeping back part of the issue - it's an early sign investors want a higher return to keep lending to that country.
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