German 2-year bond yield falls 2.4 bps to 3.087%

The front end led this move, with the two-year yield falling notably more than the long end, so the curve steepened via the 2/10 spread rather than through a uniform rally. That pattern typically signals shifting expectations for near-term policy or financing conditions rather than a broad duration bid, and it matters most for rate-sensitive short-dated exposure. Whether the front end keeps outperforming the long end, extending the steepening, is the open question worth tracking.