The German bunds jumped during European session Tuesday as investors wait to watch the country’s manufacturing PMI for October, scheduled to be released on October 24 by 07:30GMT and the 5-year auction, due on the same day by 09:40GMT for further direction in the debt market.
The German 10-year bond yields, which move inversely to its price, slumped 2 basis points to 0.434 percent, the yield on 30-year note fell 1-1/2 basis points to 1.054 percent and the yield on short-term 2-year traded 1 basis point lower at -0.637 percent by 09:55GMT.
Data-wise, after yesterday saw the Bundesbank raise the prospect of German economic growth having paused in Q3, today will bring the first top-tier euro area release of the week in the shape of the European Commission’s flash estimate of consumer confidence in October.
And this also seems unlikely to be particularly cheery. This index has been on a downward trend this year, hitting a sixteen-month low of -2.9 in September, and today’s flash estimate seems likely to show a further modest deterioration this month, Daiwa Capital Markets reported.
Meanwhile, the German DAX lost 1.80 percent to 11,307.96 by 10:05GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 28.87 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex


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