German Bunds Drop as European GDP Shrinks Less Than Economists Predicted
By Lucy Meakin -
2012-02-15T10:15:11Z
German 10-year bunds extended a decline after data showed Europe’s economy contracted less than economists forecast in the fourth quarter.
The 10-year bund yield rose four basis points to 1.94 percent as of 10:08 a.m. London time.
Gross domestic product in the 17-nation euro area fell 0.3 percent from the prior three months, the first drop since the second quarter of 2009. Economists forecast a drop of 0.4 percent, the median of 42 estimates in a Bloomberg News survey shows.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
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