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The Eurozone periphery bonds remained mixed Tuesday ahead of the zone’s consumer price inflation index (CPI), scheduled to be released on June 16. Also, the benchmark German 10-year bund auction, due on June 14 will render further direction to the debt market.
The benchmark German 10-year bond yields, which moves inversely to its price, rose nearly 1-1/2 basis points to 0.26 percent, the French 10-year bond yields, jumped nearly 2 basis points to 0.62 percent, Irish 10-year bond yield climbed 2-1/2 basis points to 0.69 percent; however, Italian equivalent slumped nearly 2 basis points to 1.99 percent, Netherlands 10-year bonds yield traded nearly 1 basis point higher at 0.48 percent, Portuguese equivalents plunged 2-1/2 basis points to 2.95 percent and the Spanish 10-year yields fell nearly 3 basis points to 1.42 percent by 09:30 GMT.
The mood among German investors worsened slightly in June, a survey showed on Tuesday, but their assessment of the German economy's current condition improved mainly due to healthier growth in the European Union. The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index fell to 18.6 from 20.6 in May. The Reuters consensus forecast was for a rise to 21.5.
In the euro area, this week will bring just a handful of notable releases. Perhaps most notable was the Bank of France’s business sentiment survey for May, which tallied with other recent surveys to suggest that confidence was relatively elevated last month. In particular, the headline manufacturing sector indicator was unchanged at six-year high of 105 as firms remained upbeat about production prospects.
Meanwhile, the pan-European STOXX 600 index was up 0.52 percent at 388.63, German DAX rose 0.51 percent to 12,755.00, France’s CAC40 climbed 0.38 percent to 5,260.25, and the PSI20 Index traded 0.23 percent higher at 5,270.26 by 09:50 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at -54.64 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
