FRANKFURT (dpa-AFX) – German government bonds rose on Thursday. The trend-setting futures contract Euro-Bund-Future was able to expand early gains until the afternoon and recently rose by 0.35 percent to 171.78 points. The yield on ten-year Bunds fell to minus 0.33 percent. In the other countries in the eurozone, yields also fell significantly, in some cases.
On the market there was talk of a countermovement to the sometimes significant losses over the course of the week. Strong economic data from the eurozone could not slow down the exchange rate of fixed-interest rates. The Markit industrial purchasing managers’ index rose to a record high in March, but it was only a second estimate. Sentiment data from US industry were also unexpectedly strong in the afternoon.
US President Joe Biden’s new billion dollar investment plan barely moved bond prices. The plan that he announced that night is primarily intended to renew the country’s infrastructure. Both the basic features and the approximate scope had already become known, so that the surprise at the markets was limited./jkr/he