Bloomberg News

German 10-Year Bonds Stay Higher After Business Confidence Drops

August 27, 2012

German 10-year bonds stayed higher after a report showed business confidence fell for a fourth consecutive month.

The yield on the 10-year bund decreased one basis point to 1.35 percent at 9.04 a.m. London time. The two-year note yield was at minus 0.007 percent.

The Ifo institute in Munich said its business climate index, based on a survey of 7,000 executives, dropped to 102.3 in August from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a decline to 102.7, according to the median of 37 forecasts in a Bloomberg News survey.

To contact the reporter on this story: Lukanyo Mnyanda in Edinburgh at lmnyanda@bloomberg.net

To contact the editor responsible for this story: Nicholas Reynolds at nreynolds2@bloomberg.net


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