TREE NEWS reports: Germany’s 30-year Bund yield rose 4.7 basis points to 3.866% on Monday’s late European session, while the 10-year yield gained 3.1 bps to 3.493%. The 2-year yield slipped 1.1 bps to 3.065% after a gap lower, lifting the 2/10-year spread by 4.154 bps to +42.323 bps. The 10-year had retreated over the prior four sessions.
German 30-year Bund yield rises about 5 bps; 2s/10s spread widens
AI take
The move is a curve story, not a level story: the long end led while the front end eased after gapping lower, so the 2s/10s spread widened even as the 10-year snapped a four-session retreat. That combination points to term-premium and duration supply pressure rather than a repricing of near-term policy expectations. How the long end behaves once the short end stops easing is the open question, and whether the 2s/10s steepening continues is the gauge to watch.
Generated by AI for reference only.
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