German Two-Year Notes Stay Lower After Business Confidence Data

German two-year notes stayed lower after data showed business confidence in Europe’s largest economy rose for a third month in January.

The two-year note yield was one basis point higher at 0.23 percent as of 9:09 a.m. London time. Benchmark 10-year bunds were little changed, yielding 1.99 percent.

The Ifo institute’s business climate index, based on a survey of 7,000 executives, climbed to 108.3 from 107.3 in December. Economists predicted an increase to 107.6, according to the median of 42 economist forecasts in a Bloomberg News survey.