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German 5yr Yield highest since January 2014

BUNDS

Another beat for German services PMIs, following on the decent French PMI beat.

  • Short term rate (Euribor), Sep 22 and the whole strip is through support and test session lows across the board.
  • Short end Govies 2yr (Schatz) and 5yr (Bobl) test new multi year yield highs at 0.75% for Bobl.
  • German 5yr Yield is now highest since 31/01/14.
  • Looking further out, reference 126.85:
  • 0.75% = 126.74
  • 0.80% = 126.45
  • 1.00% = 125.27

Chart source: MNI/Bloomberg

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