There are signs that the long string of depressing news from the Eurozone is starting to have an effect on the region’s main economy. A sale of German bonds earlier today was marred by weak demand and higher yields and in the end, the Bundesbank had to withdraw nearly half of the 6 billion euros ($8.1 billion) worth of bonds slated for sale.
The poor showing comes just one day after Fitch Ratings released a report suggesting that France was on the verge of losing its triple a rating. As a result, the euro declined to $1.3385 just before 9 am in New York.
Source: Reuters
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