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German bunds jump after December Ifo business climate index disappoints investors

The German bunds jumped during European session Tuesday after the country’s Ifo business climate index disappointed market investors, amid a muted trading session that witnessed data of little economic significance.

The German 10-year bond yields, which move inversely to its price, slumped nearly 3 basis points to 0.233 percent, the yield on 30-year note fell nearly 2 basis points to 0.866 percent and the yield on short-term 2-year traded 1-1/2 basis points higher -0.611 percent by 09:30GMT.

According to data released by the Munich-based Ifo economic institute, Germany’s business climate index, based on a monthly survey of companies, declined to 101.0 from 102.0 in November. The reading was below expectations for 101.8. The current assessment sub-index fell to 104.7 from 105.4, compared to expectations for 104.9.

Further, the business expectations index, which measures attitudes toward business prospects over the next six months, dropped to 97.3 from 98.7 last month. That missed estimates for a reading of 98.3.    

Meanwhile, the German DAX rose 0.13 percent to 10,784.82 by 09:40GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bullish at 93.61 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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March 22 19:00 UTC Released

USFCOJ Stock

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0.634 Pounds B

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0.605 Pounds B

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479.282 Pounds M

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510.065 Pounds M

January 31 00:00 UTC 600034600034m

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-1541 %

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-1541 %

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