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The German bunds slightly gained during European trading session Monday amid a muted session that witnessed data of little economic significance. Investors shall be looking forward to the country’s unemployment data for the month of May and short-term 5-year auction, both scheduled for May 29 by 07:55GMT for further direction in the debt market.
The German 10-year bond yields, which move inversely to its price, slipped 1-1/2 basis points to -0.132 percent, the yield on 30-year note suffered nearly 2 basis points to 0.521 percent and the yield on short-term 2-year remained flat at -0.632 percent by 10:25GMT.
The outcome of the European elections was in line with expectations as the four pro-EU parties, the conservative European People’s Party (EPP), the Progressive Alliance of Socialists & Democrats (S&P), the Liberals (ALDE) and the Greens/EFA, secured two-thirds of the total seats, Eurobank Economic Analysis & Financial Markets Research reported.
In FX markets, the EUR was little moved while USTs and German government bonds remained well supported, favoured by the renewed tension in the US-China trade war and increased concerns about the global growth outlook, the report added.
Meanwhile, the German DAX edged tad 0.39 percent higher to trade at 12,057.96 by 10:30GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 47.33 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
