German 10-Year Bunds Stay Higher as Euro-Area Output Contracts

German 10-year bunds stayed higher after a report showed an index of euro-area services and manufacturing output contracted more than estimated in September.

The nation’s 10-year rate was four basis points lower at 1.58 percent as of 9:05 a.m. London time.

A composite index based on a survey of purchasing managers in both industries in the 17-nation euro area fell to 45.9 from 46.3 in August, London-based Markit Economics said today. The median estimate of 23 economists surveyed by Bloomberg News called for a reading of 46.6. A reading below 50 indicates contraction.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.