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The Eurozone periphery bonds lost ground Wednesday after reading higher-than-expected retail sales for the month of May, released today.
The benchmark German 10-year bond yields, which moves inversely to its price, rose 1 basis point to 0.48 percent, the French 10-year bond yields traded tad higher at 0.83 percent, Irish 10-year bond yields hovered around 0.88 percent, Italian jumped nearly 2 basis points to 2.13 percent, Netherlands 10-year bond yield up 1 basis point to 0.67 percent, Portuguese equivalents flat at 2.96 percent and the Spanish 10-year yields traded nearly 2 basis points higher at 1.54 percent by 09:30 GMT.
Eurozone retail sales grew more than expected in May, figures from Eurostat showed Wednesday. Retail sales climbed 0.4 percent on a monthly basis in May, faster than the 0.1 percent rise in April and the 0.3 percent increase economists had expected. Year-on-year, retail sales growth held steady at 2.6 percent. Sales were expected to gain 2.3 percent.
In the EU28, retail sales climbed 0.2 percent from April and by 2.6 percent from the same period of previous year.
In contrast, the final IHS Markit Eurozone PMI Composite Output Index fell to a four-month low of 56.3 in June, but was above the earlier flash estimate of 55.7 and only slightly below April and May’s six-year record highs of 56.8. The average reading over the second quarter as a whole (56.6) was also the best outcome since Q1 2011.
Meanwhile, the pan-European STOXX 600 index was down 0.10 percent to 381.90, German DAX fell 0.05 percent to 12,435.75, France’s CAC 40 climbed 0.11 percent to 5,180.50 while the PSI20 Index traded nearly flat at 5,180.20 by 09:30 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index stood neutral at -18.74 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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