FRANKFURT (dpa-AFX) – German government bonds started the day with price gains on Friday. The trend-setting futures contract Euro-Bund-Future rose by 0.20 percent to 127.75 points in the morning. In return, the yield on ten-year federal bonds fell to 2.91 percent. It is not far from the 12-year high of a good three percent marked at the beginning of October.
Remarks by US Federal Reserve Chairman Jerome Powell the evening before had no lasting effect on the bond market. The Fed chairman left open the possibility of further interest rate hikes, but also said that the central bank would proceed cautiously given the current uncertainties and risks. On the markets, the statements were interpreted as an indication that key interest rates would remain stable for the time being.
There are only a few economic data items on the agenda at the end of the week. Data from Germany this morning confirmed the picture of sharply falling producer prices, which is primarily due to a statistical effect as a result of the drastic increase in energy and raw material prices last year. Otherwise the data calendar is largely empty.
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