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...That on the German 10-year Bund jumped 19bp to 0.66 per cent, while the two-year Schatz rose 14bp to minus 0.30 per cent....
...The German Schatz yield fell as low as minus 0.32 per cent, taking the US-German two-year spread to the widest since 2006....
...Yields on two-year German government bonds, or Schatz, suffered their biggest fall for more than two months....
...“This is a phrase that has frequently in the past been used by the ECB to signal that an interest rate hike will occur in the next month,” Howard Archer, of IHS Global Insight, said....
...“Worryingly, it is far from inconceivable that eurozone GDP contraction was even deeper in the first quarter of 2009, given largely dire data and survey evidence,” said Howard Archer, chief European and...
...But the two-year Schatz yield hit an historic low as talk of an ECB rate cut intensified....
...“This reinforces belief that we are in for an extended period of very serious consumer retrenchment, which will be a major factor contributing to GDP contracting sharply in 2009,” said Howard Archer, chief...
...The 10-year Bund yield fell 6bp to 2.95 per cent, off an earlier record low of 2.93 per cent, while the two-year Schatz dipped 5bp to 1.78 per cent....
...“The Bank of England is likely to treat the retail sales data with a great deal of caution,” said Howard Archer, economist at Global Insight....
...The rate-sensitive two-year Schatz yield rose 10bp to 3.81 per cent. US Treasuries also fell amid inflation fears and the two-year yield was up 14bp to 2.46 per cent....
...In Europe, the yield on the two-year Schatz edged up 2bp to 3.83 per cent after touching a fresh eight-month low early in the session....
...European bonds were mixed, with the two-year Schatz yield 1bp lower at 4.21 per cent but the 10-year Bund yield 1bp higher at 4.44 per cent....
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