The drop in GDP rankings came as South Korea posted a nominal economic growth rate of 1.4 percent in 2019
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The rise in inequality is attributed to the shrinking wages of low-income households, and a cut down in temporary positions
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German bunds mixed ahead of October ZEW economic sentiment, eurozone September CPI
The German bunds remained mixed during European session of the first trading day of the week Monday ahead of the country’s ZEW economic sentiment index for the month of October, scheduled to be released on October 15 by 09:00GMT and the eurozone’s consumer price inflation (CPI) for the month of September, due for release on October 16 by 09:00GMT for further direction in the debt market.
The German 10-year bond yield, which move inversely to its price, slumped 2-1/2 basis points to -0.465 percent, the yield on 30-year note plunged 5 basis points to -0.032 percent while the yield on short-term 2-year gained 2 basis points to -0.702 percent by 09:05GMT.
Wednesday’s final euro area CPI figures for September is likely to align with the preliminary readings showing a drop of 0.1ppt to 0.9 percent y/y, the lowest since November 2016. Core inflation was nudged higher in the flash estimate by 0.1ppt to 1.0 percent y/y, although rounding issues raise the risk of a downwards revision.
That day will also bring new car registrations figures from the euro area, which – like the national figures for the largest member states – are likely to report a double-digit annual rate of growth at the end of Q3, flattered to some extent by the low base the previous year as new emissions testing came into effect, the report added.
Among other releases, the euro area’s trade report (Wednesday) is likely to show a narrowing in the surplus in August on the back of subdued external demand, and will be followed by the latest balance of payments figures (Friday), Daiwa further noted in the report.
Meanwhile, the German DAX slipped -0.51 percent to 12,450.17 by 09:10GMT.