German bunds narrowly mixed ahead of ECB President Draghi’s speech, May CPI

The German bunds traded narrowly mixed Monday as investors wait to watch the European Central Bank (ECB) President Mario Draghi’s speech, scheduled to be held later in the day. Also, the release of the country’s consumer price inflation for the month of May will provide further direction to the debt market.

The yield on the benchmark 10-year bond, which moves inversely to its price, fell 1/2 basis point to 0.34 percent, the long-term 30-year bond yields rose nearly 1 basis point to 1.16 percent while the yield on the  short-term 2-year bond traded nearly 1 basis point lower at -0.69 percent by 09:00 GMT.

In the latest speech by the ECB’s chief economist Praet, he said that upswing continues to broaden across sectors and countries the more synchronized economic upswing across regions should further support the eurozone recovery.

"We still need to create a sufficiently broad and solid info base to build confidence that the projected path of inflation is robust durable and self-sustained," he said.

Meanwhile, the German stock index DAX Index rose 0.06 percent to 12,607.75 by 09:30 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -20.78 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex