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The German bunds remained narrowly mixed during European trading session Monday ahead of the country’s gross domestic product (GDP) for the second quarter of this year, scheduled to be released on August 27 by 06:00GMT and the 10-year auction, due to be held on the following day by 09:40GMT for further direction in the debt market.
The German 10-year bond yields, which move inversely to its price, edged tad nearly 1 basis point up to -0.665 percent, the yield on 30-year note hovered around -0.157 percent and the yield on short-term 2-year traded 1/2 basis point lower at -0.883 percent by 11:00GMT.
According to data released by Germany’s Ifo Institute, the country’s business climate index fell to 94.3 from an upwardly revised 95.8 in July. The August reading, the fifth monthly decline in a row, undershot a consensus forecast for 95.1, Reuters reported.
"There are ever more indications of a recession in Germany. The last time that industrial companies demonstrated such pessimism was in the crisis year of 2009. Not a single ray of light was to be seen in any of Germany’s key industries," Reuters added, citing Ifo President Clemens Fuest from a statement.
Meanwhile, the German DAX traded tad -0.45 basis point lower at 11,664.71 by 11:10GMT.
