German 10-Year Bund Yield Holds as Markets Eye Political Risks and Weak Economic Data

German 10-Year Bund Yield Holds as Markets Eye Political Risks and Weak Economic Data

The yield on Germany’s 10-year Bund has steadied around 2.7% as investors keep a close watch on political events in France and the US, all while digesting underwhelming economic data from Germany. In France, President Emmanuel Macron is anticipated to appoint a new prime minister after the resignation of Sébastien Lecornu, with indications that snap elections may be averted. Concurrently, the ongoing US government shutdown is likely to persist, potentially delaying the release of pivotal economic data and impacting the Federal Reserve’s policy guidance. On the economic data front, German exports have declined unexpectedly, with imports dropping even more sharply than projected. These reports come on the heels of significant decreases in both industrial output and factory orders earlier in the week.

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