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German bunds narrowly mixed after October ZEW economic sentiment improves, eurozone September CPI eyed

The German bunds remained narrowly mixed during European session of the second trading day of the week Tuesday after the country’s ZEW economic sentiment index for the month of October, improved, while investors still eye the eurozone’s consumer price inflation (CPI) for the month of September, due for release on October 16 by 09:00GMT for further direction in the debt market.

The German 10-year bond yield, which move inversely to its price, hovered around -0.466 percent, the yield on 30-year note slipped slightly to 0.027 percent and the yield on short-term 2-year remained flat at -0.688 percent by 10:15GMT.

In its monthly survey, ZEW said that an index showing economic sentiment among investors fell to -22.8 points in October from -22.5 points in the previous month. A second index, measuring investors’ assessment of the economy’s current shape, fell to -25.3 from -19.9 points.

ZEW’s headline economic sentiment index, which reached its lowest in almost seven years in August, appears to have stabilized. But the investor assessment of the German economy’s current condition in October was as pessimistic as it was in 2010.

Meanwhile, the German DAX gained 0.60 percent to 12,555.96 by 10:20GMT.

By Debarati Bir
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