FRANKFURT / LONDON (IT BOLTWISE) – German government bond prices fell sharply on Monday, while euro zone yields rose. The Euro Bund future fell by 0.45 percent, indicating a rising yield on the ten-year Bund. Despite a stable inflation outlook, the market remains skeptical about possible interest rate cuts by the European Central Bank.
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On Monday, German government bonds experienced a noticeable decline in prices, which was reflected in a 0.45 percent decline in the Euro Bund futures to 128.31 points. At the same time, the yield on the ten-year federal bond rose to 2.75 percent. This development is part of a broader trend in the Eurozone, where yields also rose significantly.
The European Central Bank (ECB) has not recently announced any further rate cuts, leading the market to doubt the possibility of such measures in the near future. Commerzbank experts emphasize that the market remains stubborn and estimates the likelihood of an interest rate cut in the coming months to be low. Even the most recent positive inflation reports from the member states have not changed this.
Interestingly, current data suggests that the inflation rate across the Eurozone remained stable in November. Consumer price data due to be released on Tuesday could provide further insight into the economic situation. Despite these developments, price fluctuations were generally limited, which indicates a certain stability in the market.
US industrial data released in the afternoon had little impact on the market. The Purchasing Managers’ Index ISM, a widely followed indicator, deteriorated again in November and continues to signal a slowdown in the industrial sector. However, this data could have a long-term impact on global markets, especially if the economic situation in the US continues to deteriorate.
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