German bunds climb on safe-haven demand amid quiet trading session

The German bunds climbed at the close of the trading week on Friday as investors poured into safe-haven instruments amid a quiet trading session that witnessed data of less economic significance.

The yield on the benchmark 10-year bond, which moves inversely to its price, slumped nearly 2 basis points to 0.35 percent, the long-term 30-year bond yields also plunged nearly 2 basis points to 1.18 percent and the yield on short-term 2-year bond traded nearly 1 basis point lower at -0.68 percent by 09:00 GMT.

In the latest speech by the ECB’s chief economist Pratt, he said that upswing continues to broaden across sectors and countries the more synchronised economic upswing across regions should further support the eurozone recovery.

"We still need to create a sufficiently broad and solid info base to build confidence that the projected path of inflation is robust durable and self-sustained," he said.

Meanwhile, the German stock index DAX Index fell 0.45 percent to 12,563.50 by 09:10 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 18.55 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex