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German 10-Year Bunds Decline After Business Confidence Jumps

Feb. 23 (Bloomberg) -- German 10-year bunds declined after a report showed business confidence rose more than economists forecast to the highest in seven months in February.

The 10-year bund yield rose two basis points to 1.91 percent at 9:04 a.m. London time. German two-year notes were little changed with the yield at 0.28 percent.

The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, climbed to 109.6 from 108.3 in January. That’s the fourth straight gain and the highest reading since July. Economists predicted an increase to 108.8, according to the median of 38 estimates in a Bloomberg News survey.

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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