Bund yields drop to records ahead of EU summit

Note: This section contains information in English only.
Source: Bloomberg
German bunds rose on worries that European leaders will struggle to resolve the euro zone debt crisis during tonight's European summit.  David Schnautz of Commerzbank AG in London thinks that Europe is unlikely to solve key topics and will probably disappoint the market. The 5-year bund lost 5 bp to 0.47 percent at 10:49 GMT after tumbling to 0.461 percent, the lowest since 1990, when Bloomberg began gathering data. The borrowing costs for 10-year bund slipped 6 bp to 1.41 percent. 30-year bund yield fell to the lowest level ever recorded ‒ 2.03 percent.

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