German, British sovereign bonds trade lower

Thursday, 21. February 2019 10:22

Selling pressure prevailed on Thursday in the market for government debt of the United Kingdom and Germany. Sovereign securities declined, sending yields higher, together with a slide in precious metals, another safe haven asset class. However, risk appetite was weak, as stocks in Frankfurt traded with only small gains and the main French and British equity indexes were in the red. Investors remained focused on Brexit, global economic growth prospects and the bilateral trade talks between the United States and China.

The German two-year note was marginally up for the day at a negative 0.563% at 10:20 am CET. The ten-year benchmark jumped 1.1 basis points to 0.112% and the yield on the 30-year bonds grew 0.7 points to 0.732%. Corresponding futures slipped 0.01%, 0.07% and 0.1%, respectively. The UK's two-year debt traded with the yield at 0.759% or up 0.8 points. The ten-year gilt yielded 1.095%, a rise of 1.5 points, compared to the advance of 1.1 points to 1.717% for paper due in 30 years.

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