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23 Jun 2015
German Bund yields ignore upbeat PMI figures
FXStreet (Mumbai) - The yields on the German bunds failed to rise on a better-than-expected German private sector activity report released on Tuesday.
The preliminary German PMI report for June showed a higher-than-expected expansion in the manufacturing activity. The services activity also stayed in the expansion phase (above 50.00). However, the stronger data failed to see bund yields extend gains.
The benchmark 10-year yield in Germany hardly reacted to data and is on the verge of falling into losses as it trades at 0.889%. The yield clocked a high of 0.921% earlier today.
Moreover, the investors tired of repeated promises from the Eurozone officials await definite news regarding Greek deal from Brussels. Consequently, the safe haven Bund prices recovered, thereby pushing yields lower from the daily highs.
The preliminary German PMI report for June showed a higher-than-expected expansion in the manufacturing activity. The services activity also stayed in the expansion phase (above 50.00). However, the stronger data failed to see bund yields extend gains.
The benchmark 10-year yield in Germany hardly reacted to data and is on the verge of falling into losses as it trades at 0.889%. The yield clocked a high of 0.921% earlier today.
Moreover, the investors tired of repeated promises from the Eurozone officials await definite news regarding Greek deal from Brussels. Consequently, the safe haven Bund prices recovered, thereby pushing yields lower from the daily highs.