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German 10-year bunds break to new lows on unemployment declines

FXStreet (London) - German 10-year bund yields hit new lows today after German unemployment numbers fell to new lows.

Data released by the German Federal Labour Agency this morning indicated that seasonally adjusted unemployment fell by 14k to 2.87 million in November, with the adjusted jobless rate falling to 6.6 percent, level with the revised rate for October. The rate is the lowest in more than 20 years.

German 10-year bund yields fell sharply on the data, declining to a low of 0.709 percent, falling 0.03 percent yield from opening highs.

The break to new low yields comes after the Bundesbank yesterday auctioned EUR2.25bn of 10-year 1pc government bonds sold at a weighted average 102.38 with a record-low 0.74 percent yield.

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