German Bunds Advance After Euro-Region Manufacturing Contracts
By Emma Charlton -
2012-11-02T09:06:52Z
German government bonds advanced after a report showed manufacturing output in the euro-region contracted in October.
Ten-year bund yields fell two basis points, or 0.02 percentage point, to 1.44 percent at 9:03 a.m. London time. Two- year yields were little changed at 0.02 percent.
A gauge of manufacturing in the 17-nation euro area fell to 45.4 from 46.1 in September, snapping two months of advances, London-based Markit Economics said today. That compares with an initial estimate of 45.3 published on Oct. 24. A reading below 50 indicates contraction.
To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net
To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net
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