Monday, September 14, 2009

Germany Gets In On The New Carry Trade

Germany Sells $4 Billion of Three-Year Dollar Debt

"Germany sold $4 billion of bonds in its first dollar-denominated offering since 2005, according to a person familiar with the transaction.

The three-year issue broadens the nation’s sources of funding at a time when it’s seeking to raise a record amount of debt. The notes priced to yield 25 basis points below the benchmark mid-swap rate..."