The yield on German 10-year government bonds has narrowed to almost 4 basis points.

At the end of the European session on Thursday, the yield on German 10-year government bonds rose by 4.4 basis points to 2.988%, overall in an upward trend and trading in the range of 2.962% - 3.032%. During the volatile market, it hit a new daily high at 23:04 Beijing time, before rapidly giving back gains. The yield on 2-year German bonds rose by 2.5 basis points, hitting a new daily low at 2.516% and staying in an upward trend throughout the day, sharply giving back gains after 23:00. The yield on 30-year German bonds rose by 5.9 basis points to 3.524%, holding on to most of its intraday gains, accelerating since 20:00 and hitting a new daily high at 3.548% at 23:04. The spread between 2-year and 10-year German bond yields increased by 1.615 basis points to +46.497 basis points, opening higher at +46.916 basis points at 14:23, peaking before dropping below +43 basis points, gradually recovering lost ground afterwards.