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German Government Bonds Stay Higher as June Unemployment Climbs

German government bonds stayed higher after a report showed unemployment in Europe’s largest economy climbed more than economists predicted in June.

The yield on the bund maturing July 2022 was seven basis points lower at 1.50 percent at 8:58 a.m. London time. Two-year yields dropped three basis points to 0.095 percent.

The number of people out of work rose a seasonally adjusted 7,000 to 2.88 million, the Nuremberg-based Federal Labor Agency said today. Economists forecast an increase of 3,000, the median of 30 estimates in a Bloomberg News survey shows.

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