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The German bunds jumped during European trading session Friday despite a higher-than-expected rise in the eurozone’s retail sales for the month of June, released today.
The German 10-year bond yields, which move inversely to its price, slumped 3-1/2 basis points to -0.486 percent, the yield on 30-year note plunged 6-1/2 basis points to 0.022 percent while the yield on short-term 2-year traded 1-1/2 basis points down at -0.785 percent by 09:40GMT.
In June, compared with May, the seasonally adjusted volume of retail trade increased by 1.1 percent in the euro area (EA19) and by 1.2 percent in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In May, the retail trade volume decreased by 0.6 percent in the euro area and by 0.7 percent in the EU28.
Further, the calendar adjusted retail sales index increased by 2.6 percent y/y in the euro area and by 2.8 percent y/y in the EU28.
Meanwhile, the German DAX plunged over 2.50 percent to 11,945.54 by 09:45GMT.
