Self-employed Australians' hours have fallen 32% since coronavirus hit – double the impact on all employees
German bunds slump on improvement in investor sentiments following draft Brexit deal
The German bunds slumped during European session Thursday after investor sentiments improved, following a draft Brexit deal that could actually smoothen the road for Britain to finally break all ties with the European Union.
The German 10-year bond yield, which move inversely to its price, jumped nearly 4 basis points to -0.353 percent, the yield on 30-year note also surged 4 basis points to 0.155 percent while the yield on short-term 2-year traded flat at -0.662 percent by 10:15GMT.
After months of negotiations, the UK and EU agreed a new withdrawal deal on Thursday, according to statement from British Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker, CNN reported; there are now only 14 days left until Britain exits the EU on October 31.
Today should be relatively uneventful for economic news from the euro area with August construction output data the sole new release of note. Not least given the 1½ percent m/m drop in Germany, these are likely to show a fifth decline in production in the sector in six months, Daiwa Capital Markets reported.
In addition, the Presidents of the National Banks of France (Villeroy), Italy (Visco), Spain (De Cos) and the Netherlands (Knot) will speak publicly in Washington DC. In the markets, France and Spain will sell a range of bonds, the report added.
Meanwhile, the German DAX gained 1 percent to 12,785.11 by 10:20GMT.