Ten-Year Bund Yield Trades Steady After Weaker-than-Expected German PMI Data

Dow Jones
08/21

0752 GMT - The German 10-year Bund yield trades steady after a weaker-than-expected print of flash estimate August PMI data, having earlier traded marginally higher. The composite flash estimate PMI was 51.0, below analysts' consensus expectation of 51.5 in The Wall Street Journal's poll. However, the reading remained above 50, signalling an expansion in activity. Manufacturing was stronger, though services activity unexpectedly contracted. The 10-year Bund yield was 0.2 basis points lower at 3.245% after the release, according to Tradeweb data. The euro is little changed after the data, last up 0.1% at $1.1695.

 

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