FRANKFURT (dpa-AFX) – German government bonds went into trading on Friday with little price movement. In the morning, the trend-setting futures contract Euro-Bund-Future was stable at 158.16 points. The yield on ten-year Bunds was 0.79 percent.
Production figures from German industry surprised positively in the morning. Instead of an expected decline, the manufacturing sector was able to increase its production from May to June. However, as the Federal Ministry of Economics announced, a drop in production had an impact in the second quarter as a whole. The Ministry commented that the prospects for the second half of the year were dampened due to reduced gas supplies from Russia and the high level of uncertainty caused by the Ukraine war.
In the afternoon, numbers will be sent US job market into focus. The government publishes its monthly jobs report. The data is closely watched in the financial markets because of its impact on the monetary policy have the US Federal Reserve. Interest is particularly strong this time because the US economy shrank in the first half of the year. The labor market, which has been solid up to now, is seen by many economists as an indication against a classic recession./bgf/jha/