Germany’s borrowing costs surged on Wednesday, marking its largest increase in the last 17 years, as investors backed a new deal to fund defense and infrastructure investments.
Yields on German government 10-year bonds, known as Bunds, surged 0.21 percentage points to 2.69 percent, its biggest one-day move since 2008. Thirty-year Bunds also rose to 3.07 percent, the biggest increase since October 1998.
