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The German bunds slipped during European session on Friday as investors cashed in profits after debt prices rose a week high. Also, higher than expected October business expectations pushed out traders from safe-haven buying.
The German 10-year bond yield, which move inversely to its price, surged 2 basis points to -0.389 percent, the yield on 30-year note also gained 2 basis points to 0.100 percent while the yield on short-term 2-year traded nearly flat at -0.662 percent by 11:07GMT.
On the other hand, UK PM Boris Johnson announced yesterday that, if the EU grants a three-month Brexit extension, his government will submit a motion on Monday, 28 October for a general election on 12 December. The GBP came under some pressure, core government bonds were a tad higher early today while investors retained a cautious stance on risk assets, Eurobank noted.
On the data front, IFO business expectations index to 91.5 for October, up from previous month’s 90.9 and market consensus of 91.0.
Next week, investors would focus on the Federal Reserve monetary policy decision where it is widely expected to lower its fed funds rate to 1.50-1.75 percent – its third cut third year.
Meanwhile, the German DAX remained tad 0.12 percent lower at 12,856.81 by 11:10GMT.
