From Blogging Stocks…..

The German auction of 10-year bonds failed to receive the 6 billion euros the government wanted to raise. Countries across Europe including the UK, Italy, Spain, Austria, Belgium, and the Netherlands, had either to struggle to sell their bonds or cancel their debt offerings because of lack of demand. This is particularly foreboding because this year governments around the world are looking to raise $3,000 billion, three times more than in 2008.