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German 10-year Bund yields spike as investors rush for exits

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Investing.com -

Investing.com - Germany's 10-year bond yield hit a fresh 2015 high on Thursday, as deflation fears eased amid recovering oil prices and following the introduction of the European Central Bank's massive quantitative easing program.

Germany 10-Year bonds rose to a session high of 0.796%, a level not seen since November 21, before trading at 0.734% during European morning hours, up 15.3 basis points, or 25.21%.

The 10-year German government bond yield hit an all-time low of 0.048% on April 17, before moving higher as European economic data improved.

French and U.K. yields were also on the rise, while the Spanish 10-Year yield rose above 2% for the first time since November.

Meanwhile, the euro was up 0.27% to trade at 1.1380 against the U.S. dollar after touching an intraday peak of 1.1392, the most since February 25.

Elsewhere, European stock markets were under heavy selling pressure. Germany's DAX tumbled 1.3%, the EURO STOXX 50 dropped 1.65%, France's CAC 40 lost 1.8% while London's FTSE 100 slumped 1.5%.

Across the Atlantic, the 10-Year U.S. Treasury yield rose 4.7 basis points, or 2.08%, to hit 2.287% after touching a daily high of 2.312%, the strongest level since December 8.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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