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The German bunds remained mixed during afternoon session Wednesday ahead of the European Central Bank’s (ECB) Governor Christine Lagarde’s speech, due to be delivered today by 13:30GMT and the country’s employment report for the month of February, scheduled for release by end of this week .
The German 10-year bond yield, which move inversely to its price, hovered around -0.508 percent, the long-term 30-year yield rose 1 basis point to -0.023 percent and the yield on short-term 2-year suffered nearly 2 basis points to trade at -0.706 percent by 11:20GMT.
Another big risk off bout sent the S&P500 down 3 percent overnight and the 10-year UST bond yield to a fresh record low of 1.31 percent after the US CDC warned Americans to prepare for a Covid-19 outbreak, OCBC Treasury Research reported.
Notably, Nasdaq has also erased year-to-date gains. Whilst the WHO has warned of growing covid-19 risks, Fed’s Claudia still opined it is too soon to determine if the virus poses a material change to the US outlook, the report added.
Meanwhile, the German DAX lost over 1 percent to 12,642.16 by 11:30GMT.
