German Bunds Advance After Euro-Region Manufacturing Contracts

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.

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