German bunds continue flat trading ahead of Q3 GDP, November manufacturing PMI
The German bunds continued to trade flat during European session Tuesday amid silent trading hours that barely witnessed any data of major economic significance ahead of the country’s gross domestic product (GDP) for the third quarter of this year and November month manufacturing PMI, both scheduled to be released on November 22 by 07:00GMT and 08:30GMT respectively.
The German 10-year bond yield, which move inversely to its price, hovered around -0.332 percent, the yield on 30-year note traded flat at 0.157 percent and the yield on short-term 2-year too remained steady at -0.629 percent by 09:30GMT.
Global risk appetite is likely to be more muted as market hopes for the US-China trade deal was pared back after a CNBC reported that Beijing was pessimistic, OCBC Treasury Research reported.
The meeting between US President Donald Trump and Fed Chair Jerome Powell to discuss the economy, interest rates, low inflation, dollar strength, trade etc was said to be “good and cordial”, but did little to stir markets as Powell “did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming information that bears on the outlook for the economy”, the report added.
Meanwhile, the German DAX edged 1 percent higher to 13,330.24 by 09:35GMT.