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The German bunds rose higher during European session Wednesday following disappointment in Eurozone’s consumer price inflation (CPI) for the month of July, while a better-than-expected reading in the country’s jobless change restricted any further upside in debt prices.
The German 10-year bond yields, which move inversely to its price, slipped 1 basis point to -0.410 percent, the yield on 30-year note edged 1-1/2 basis points lower to 0.161 percent and the yield on short-term 2-year also traded 1 basis point down at -0.765 percent by 10:25GMT.
Euro area annual inflation is expected to be 1.1 percent in July 2019, down from 1.3 percent in June according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in July (2.0 percent, compared with 1.6 percent in June), followed by services (1.2 percent, compared with 1.6 percent in June), energy (0.6 percent, compared with 1.7 percent in June) and non-energy industrial goods (0.4 percent, compared with 0.3 percent in June).
According to data released by Germany’s Federal Office, the number of people who opted out of work rose by 1,000 to 2.283 million in seasonally adjusted terms, compared with a Reuters consensus forecast for a rise of 2,000, while still not cheerful enough when compared with the previous reading of -1,000.
Further, the jobless rate held steady at 5.0 percent, slightly above the record-low of 4.9 percent reached earlier this year.
Meanwhile, the German DAX traded tad 0.25 percent higher at 12,176.68 by 10:30GMT.
