German bunds jump despite cheerful February employment report; eyes on eurozone CPI

The German bunds jumped during afternoon session of the last trading day of the week Friday even as the country’s employment report for the month of February cheered market investors ahead of the eurozone’s consumer price inflation (CPI) for the similar period, scheduled to be released by early next week.

The German 10-year bond yield, which move inversely to its price, slumped 4-1/2 basis points to -0.601 percent, the long-term 30-year yield plunged 6 basis points to -0.129 percent and the yield on short-term 2-year suffered 3-1/2 basis points to trade at -0.774 percent by 12:00GMT.

Data from the Labour Office showed the number of people out of work fell by 10,000 to 2.262 million in seasonally adjusted terms. That confounded a Reuters consensus forecast for a rise of 3,000. The unemployment rate remained steady at 5.0 percent.

Meanwhile, the German DAX plunged over 3.50 percent to 11,914.04 by 12:10GMT.