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German 10-year yields decline after IFO data

FXStreet (Mumbai) - The benchmark German bond prices gained, pushing the yield lower after the German research institute, IFO, data dampened optimism over the health of the Eurozone’s largest economy.

The Ten-year yield is trading at 0.892%, down from the day’s high of 0.913%, after the IFO business climate index fell to a 22-month low in October. Meanwhile, the current assessment as well as the business expectations index declined more than the market expectations. With this data, the concerns of a slowdown in Germany are likely to resurface.

The ten-year yields had tanked to a record low of 0.716% earlier this month after the International Monetary Fund (IMF) revised its global growth forecasts lower for the current year.

Ten-year yield Technical levels

The yield is trading at an immediate support of 0.892%, below which it can fall to 0.859%. On the flip side, yields can rally to 0.92 levels if the day’s high of 0.913% is breached.

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