German bunds mixed ahead of January unemployment change, Eurozone CPI

The German bunds remained mixed during European trading session Wednesday ahead of the country’s unemployment change for the month of January and eurozone’s consumer price inflation (CPI) for the similar period, scheduled to be released on January 30 and 31 by 08:55GMT and 10:00GMT respectively.

The German 10-year bond yield, which move inversely to its price, rose 1 basis point to -0.369 percent, the long-term 30-year yield gained nearly 1-1/2 basis points to 0.143 percent while the yield on short-term 2-year lost 1 basis point to -0.637 percent by 10:50GMT.

The latest GfK survey suggested an improvement in German consumer confidence in the current quarter. January’s headline sentiment indicator was unchanged at 9.7, only 0.1pt above November’s 3½-year low, while that for February surpassed expectations to 9.9. But it’s forecast to rise 0.2pt to an eight-month in February high, Daiwa Capital Markets reported.

Indeed, the detail for January reported modest improvements in household assessments of economic conditions as well as their income expectations. More significantly, perhaps, it also reported a rise in consumers’ willingness to buy to the highest level in a year, the report added.

Meanwhile, the German DAX traded tad 0.14 percent higher at 13,342.25 by 10:55GMT.