German 10-year Bund yield rises 1 bp to 3.345%, weekly drop narrows to 8.1 bps

The split between the long end and the front end is the story here: the 30-year falling while the 2-year and 10-year rise points to a curve move rather than a single directional repricing of German duration. The 2/10 spread narrowing to roughly +28 bps suggests the recent weekly rally was concentrated in longer maturities, and the modest Friday retracement did little to reverse it. For euro-area rates watchers, whether this long-end outperformance persists or the front end catches up is the open question.