The German bunds continued to slump during European session Tuesday after investors were cheered by the improvement in the unemployment change for the month of October, better than market forecast as well.
Investors will now wait to watch the eurozone’s consumer price inflation (CPI) data for the similar period, due for release on October 31 by 10:00GMT, for further direction in the debt market.
The German 10-year bond yields, which move inversely to its price, rose nearly 1 basis point to 0.389 percent, the yield on 30-year note also climbed nearly 1 basis point to 1.039 percent and the yield on short-term 2-year traded tad 1/2 basis point higher at -0.655 percent by 09:55GMT.
The country’s unemployment change came in at -11k in October, vs market expectations of -12k, from -23k in September, data released by Destatis showed Tuesday. Further, data released by Germany’s Federal Labour Office said the seasonally adjusted jobless total fell by 11,000 to 2.292 million, slightly below the predicted drop of 12,000.
However, the unemployment rate remained unchanged at 5.1 percent, the lowest since German reunification in 1990.
Meanwhile, the German DAX lost 0.41 percent to 11,291.27 by 10:05GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -18.30 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
