German Bunds Gain as Investor Confidence Unexpectedly Declines

German 10-year government bonds gained as a report showed investor confidence in Europe’s largest economy unexpectedly declined in July.

The yield on the bund decreased two basis points, or 0.02 percentage point, to 1.56 percent at 10:06 a.m. London time. Two-year rates slipped two basis points to 0.10 percent.

The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, fell to 36.3 from 38.5 in June. That’s the first decline in three months. Economists forecast a gain to 40, according to the median of 37 estimates in a Bloomberg News survey.

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