German 10-year Bund yields spike as investors rush for exits
Investing.com
Published May 07, 2015 05:44AM ET
German 10-year Bund yields spike to 0.796%
Investing.com - Germany's 10-year bond yield hit a fresh 2015 high on Thursday, as deflation fears eased amid recovering oil prices and following the introduction of the European Central Bank's massive quantitative easing program.
Germany 10-Year bonds rose to a session high of 0.796%, a level not seen since November 21, before trading at 0.734% during European morning hours, up 15.3 basis points, or 25.21%.
The 10-year German government bond yield hit an all-time low of 0.048% on April 17, before moving higher as European economic data improved.
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French and U.K. yields were also on the rise, while the Spanish 10-Year yield rose above 2% for the first time since November.
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Meanwhile, the euro was up 0.27% to trade at 1.1380 against the U.S. dollar after touching an intraday peak of 1.1392, the most since February 25.
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Elsewhere, European stock markets were under heavy selling pressure. Germany's DAX tumbled 1.3%, the EURO STOXX 50 dropped 1.65%, France's CAC 40 lost 1.8% while London’s FTSE 100 slumped 1.5%.
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Across the Atlantic, the 10-Year U.S. Treasury yield rose 4.7 basis points, or 2.08%, to hit 2.287% after touching a daily high of 2.312%, the strongest level since December 8.
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Written By: Investing.com
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