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The Eurozone periphery bonds slumped Wednesday after the eurozone’s Q2 GDP, released today, matched market consensus; however, on a y/y basis, it came in above what analysts had earlier anticipated. Investors will now remain focused on the region’s July CPI data, scheduled to be released on August 17 by 09:00GMT for further direction in the debt market.
The German 10-year bond yields, which moves inversely to its price, jumped nearly 4 basis points to 0.46 percent, the yield on 30-year note also surged 4 basis points to 1.21 percent and the yield on short-term 2-year traded 2 basis points higher at -0.68 percent by 09:50GMT.
Seasonally adjusted gross domestic product rose by 0.6 percent in both the euro area and the EU28 during the second quarter of 2017, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2017, GDP grew by 0.5 percent in both zones.
Year-on-year, seasonally adjusted GDP rose by 2.2 percent in the euro area and by 2.3 percent in the EU28 in the second quarter, after 1.9 percent and 2.1 percent growth respectively in the previous quarter.
Meanwhile, the German DAX rose 0.87 percent to 12,281.50 by 09:50 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 15.90 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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