European Market Recap: German Bonds Move Higher, UK Bonds Lower

Market Updates | Written by CEP News | Jun 26 08 11:32 GMT |
(CEP News) - European equity markets are trading lower with the Eurostoxx losing 38.23 points on the day and the UK FTSE 100 down 66.90 points to 5599.199. In Germany, the bund was up 3.0 ticks to 110.48 with yields down 0.2 bps to 4.61% while the 10-year gilt was down 13.0 ticks to 104.29 with yields up 1.9 bps to 5.14%.

The five-year Bobl was up 4.0 ticks to 105.87, the two-year Schatz up 4.0 ticks to 102.39 and the June 2008 Euribor contract trading up 5.5 ticks to 94.94.

The spread between the 10-year Bund and 10-year U.S. Treasury notes widened 1.962 bps to -48.80.


Yields on the UK's 30-year bond were up 2.3 bps to 4.67%, the five-year bond up 0.8 bps to 5.19% and the two-year bond up 0.4 bps to 5.25%.

The September 2008 Short Sterling contract was up 6.0 ticks to 93.92.

Yields on U.S. 10-year Treasury notes are up 2.4 bps to 4.123%.

European stock markets are declining with the Eurostoxx down 38.23 points to 2920.04, the UK FTSE 100 down 66.90 points to 5599.199 and the German DAX down 88.75 points to 6529.09.

The Japanese Nikkei was trading down 7.60 points to 13822.32.

The Canadian dollar was down 0.02 cents to 0.9907 against the USD (1.0099 USD/CAD). Against the euro, the loonie was down 0.17 cents to 0.6305 (1.5859 CAD/EUR).

The U.S. dollar was down 0.07 to 107.75 and the euro was up 0.35 to 169.24, both against the yen.

The euro was up 0.38 cents to 1.5705 while the pound sterling was up 0.69 cents to 1.9820, both against the USD.

The euro was down 0.08 cents to 0.7924 pounds.

The Swiss franc was up 0.39 cents to 1.0311 against the USD and up 0.19 cents to 1.6196 against the euro.

All data taken at 7:30 a.m. EDT.

Generated by CEP Newswires, edited by Stephen Huebl, shuebl@economicnews.caThis email address is being protected from spam bots, you need Javascript enabled to view it

CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca

The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.

A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.