German bunds flat after Ifo business climate index misses market expectations in December

The German bunds traded flat Tuesday after the country’s Ifo business climate index slightly missed market expectations during the month of December.

The German 10-year bond yields, which move inversely to its price, remained flat at 0.31 percent, the yield on 30-year note jumped 2 basis points to 1.13 percent and the yield on short-term 2-year traded 1 basis point higher at -0.69 percent by 09:30GMT.

The Ifo Business Climate Index edged downwards to 117.2 points in December from 117.6 (Seasonally adjusted) points in November. This was due to less optimistic business expectations. Assessments of the current business situation, by contrast, were more positive this month. German businesses are full of festive spirits.

Meanwhile, the German DAX rose 0.07 percent to 13,321.00 by 09:35 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 53.20 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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