German Bonds Jump as Traders Add to Wagers on Further ECB Easing

German government bonds extended gains on Wednesday as weak economic data prompted traders to increase their bets on rate cuts, offsetting the prospect of a jump in debt sales.

The benchmark 10-year bond headed for its biggest three-day gain since September, leaving the yield near the lowest since Dec. 5. The 30-year yield has fallen to 3.42%, after reaching a 14-year high last month. Other European bonds were pulled along by the rally, including gilts where long-end yields dipped to the lowest since April.