Euro zone bond yields, euro drop as German manufacturing recession deepens

Credit: REUTERS/VASILY FEDOSENKO

Euro zone government bond yields and the euro fell on Wednesday after data showed Germany's manufacturing recession had deepened, with the performance of goods producers dropping to the lowest level in seven years. [nL9N1JU00E]

LONDON, July 24 (Reuters) - Euro zone government bond yields and the euro fell on Wednesday after data showed Germany's manufacturing recession had deepened, with the performance of goods producers dropping to the lowest level in seven years.

German and French government bond yields fell to new two-week lows, with the benchmark 10-year German Bund yield down 2 basis points to a low of -0.38% DE10YT=RR. The common currency was down by 0.2% at $1.1127 EUR=EBS, plumbing the lowest since May 30, having shed 2.1% of its value this month.

The French and German stock indices .GDAXI, FCHI briefly hit their lows for the day after the data. At 0739 GMT, the euro zone benchmark .STOXXE was flat on the day.

(Reporting by Virginia Furness, Olga Cotaga and Jo Mason; editing by Sujata Rao)

((Virginia.Furness@thomsonreuters.com; +44207 542 5477;))

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