German bunds remain tad lower ahead of May retail sales, unemployment rate data

The German bunds remained tad lower during European session Monday as investors awaited the release of the country’s retail sales for the month of May and the unemployment data for the same period, scheduled for May 30 by 06:00GMT and 08:00GMT respectively.

The German 10-year bond yields, which move inversely to its price, remained tad higher at 0.41 percent, the yield on 30-year note also climbed to 1.13 percent and the yield on short-term 2-year hovered around -0.66 percent by 09:10GMT.

The institutional setup of the Eurozone remains in limbo with the no-bailout clause being de-facto abolished on the one hand and no fiscal union in sight on the other. The opportunity to initiate reforms which open up at least the vision of an end of this limbo status has probably already been missed. Italian populists complain that in Germany Italy was being portrayed as a beggar or a scrounger. In reality, the situation is even worse.

Meanwhile, the German DAX traded 0.15 percent higher at 12,957.53 by 09:10GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bearish at -149.68 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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