Eurozone bond prices up and yields fall to record low
Eurozone bond prices were up and yields fell to a record low at one point on Wednesday amid more bad economic news for the region.
In Germany, the Ifo business climate index was down to 92.9 in May from 93.3 in April. It was the fourth month in a row that the index went down.
At the close of trade on Wednesday, yields on the 10-year Bund had risen 1.9 basis points to 3.318 percent, but at one point in the day yields reached a record low of 3.269 percent. The 2-year Schatz lost 0.7 basis points to yield 2.196 percent.
In the UK, as well, gilt prices rose and yields fell before they reversed course as the 2-year gilt rose 0.1 basis point to a yield of 4.339 percent, while the 10-year gilt went up 1.4 basis points to 4.345 percent.
In Japan, prices were up and yields were down as the 10-year government bond lost 3 basis points to yield 1.225 percent.
US Treasury bonds, however, saw falling prices and higher yields on 10- and 30-year bonds while the 2-year bond remained steady at 3.603 percent. The 10-year bond rose 1 basis point to 4.046 percent and the 30-year bond was yielding 4.386 percent.