FRANKFURT (dpa-AFX) – The prices of German federal bonds fell on Monday. By the afternoon, the trend-setting futures contract Euro-Bund-Future fell by 0.34 percent to 135.25 points. In return, the yield on ten-year federal bonds rose to 2.23 percent.
Economic data from Germany was weak. As generally expected, the German economy shrank slightly last year. The decline in gross domestic product (GDP) amounted to 0.3 percent. “Overall, 2023 was a very difficult year for the German economy,” commented economist Christoph Swonke from DZ Bank. He was not very optimistic about 2024: “We only expect a tentative economic improvement.”
Meanwhile, the annual World Economic Forum is starting in Davos, Switzerland. However, the actual program with numerous speeches does not begin until Tuesday. There is a lot of peace in the USA due to a public holiday./jsl/he