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Bond Yields, Stocks Spike On German Cash-For-Climate Debt Plan
Bund yields (and Treasury yields) and stocks have spiked in the last few minutes following headlines from Germany's Der Spiegel that the government is proposing a EUR500mm debt deal to fund climate protection. Development Minister Gerd Müller demands more financial resources for international climate protection. "There is less and less time to achieve the goals of the Paris Agreement, and in Germany we must increase our efforts and invest an additional 500 million euros in international climate protection next year," the CSU politician told SPIEGEL. The money should come either from the National Climate Fund or ... (full story)