European bonds are strengthening today as the growing uncertainty caused by the war in Ukraine turns investors to government bonds (and the US currency). The yield on the 10-year German bond once again fell below zero.
Investor interest is focused next week at the ECB meeting, where central bankers will try to balance the strong inflationary pressures facing the economy and the risk of a new recession. The messages from the consumption front are no longer encouraging as the retail sales index in the euro area increased in January by only 0.2% and by 7.8% on an annual basis (compared to the corresponding month of 2021).
In the domestic bond market and more specifically in HDAT, transactions of 18 million euros were recorded, of which 14 million euros related to purchase orders. The yield on the 10-year bond closed at 2.37% from 2.42% yesterday against -0.08% of the corresponding German bond, resulting in a margin of 2.45% from 2.37% that closed yesterday.
In the foreign exchange market, the dollar continues its upward race as the European currency traded early in the afternoon at $ 1.0916 from the level of $ 1.1021 when the market opened.
The indicative price for the euro / dollar exchange rate announced by the ECB was set at $ 1.0926.
Source: Capital
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