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Bunds tested sub-1.0% levels – Danske Bank

FXStreet (Edinburgh) - The German Bunds have tested levels below the 1.0% handle yesterday, commented Arne Rasmussen, Chief Analys at Danske Bank.

Key Quotes

“Yesterday 10y Bund yields for the first time briefly traded below the psychologically important 1% level”.

“The support to Bunds not only reflects geo-political concerns but certainly also concerns that the growth and inflation outlook for the euro-zone have weakened and that the zero growth in Q2 is only the beginning of a longer period of lacklustre growth that will secure low rates for a prolonged period of time”.

“Strong demand with a high bid-to-cover at the 30y treasury auction in the US gave further support to global bond markets”.

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