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The German bunds rallied Tuesday, following expectations of a fall in the country’s consumer price inflation during the month of March.
The yield on the benchmark 10-year bond, which moves inversely to its price, slumped 1-1/2 basis points to 0.39 percent, the long-term 30-year bond yields also plunged nearly 1-1/2 basis points to 1.13 percent and the yield on short-term 2-year bond too traded around 1-1/2 basis points lower at -0.70 percent by 08:20 GMT.
Germany's inflation accelerated as estimated in February, final data from Destatis showed Tuesday. The consumer price index inflation rose to 2.2 percent from 1.9 percent in January. The rate came in line with the flash estimate published on March 1.
The latest inflation figure was the highest since August 2012, when it was the same. A higher figure of 2.4 percent was seen in November 2011. Compared to the previous month, the CPI rose 0.6 percent in February as estimated, offsetting January's 0.6 percent decline.
Meanwhile, the German stock index DAX Index traded 0.62 percent higher at 12,074.25 by 08:40 GMT, while at 08:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 17.31 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
