The Eurozone periphery bonds traded mixed Friday after reading a higher-than-expected rise in the German manufacturing PMI for the month of June, released earlier today.
The benchmark German 10-year bond yields, which moves inversely to its price, fell 1 basis point to 0.26 percent, the French 10-year bond yields, also slipped 1 basis point to 0.59 percent, Irish 10-year bond yield plunged nearly 7 basis points to 0.64 percent, Italian equivalent slumped 2 basis points to 1.89 percent, Netherlands 10-year bonds yield traded 1-1/2 basis points lower at 0.45 percent, Portuguese equivalents plummeted nearly 4-1/2 basis points to 2.89 percent and the Spanish 10-year yields traded nearly flat at 1.36 percent by 08:30 GMT.
The IHS Markit Flash Germany Composite Output Index registered 56.1 in June, down from 57.4 in May and indicating the slowest rate of expansion since February. That said, growth remained strong overall and was among the fastest registered over the past six years.
In the goods-producing sector, the easing in output growth was reflected in a slight dip in the HIS Markit Flash Germany Manufacturing PMI to 59.3, from April’s 59.5. This was nevertheless indicative of the second-strongest overall performance of the sector since April 2011.
Meanwhile, the pan-European STOXX 600 index was down 0.15 percent at 387.95, German DAX slipped 0.23 percent to 12,765.50, France’s CAC 40 fell 0.16 percent to 5,273.50, and the PSI20 Index traded 0.24 percent lower at 5,232.37 by 09:20 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at -7.19 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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