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(CEP News) - The German, ten-year Bund was flat at 122.86 with yields up 1.2 bps to 3.21%, while the 10-year gilt was up 38.0 ticks to 121.32 with yields down 3.7 bps to 3.25% following the downside surprise in euro zone economic confidence for December. The euro was down 0.79 cents to 1.3567 USD.
According to the EU Commission, the business climate indicator for the euro zone fell below expectations to -3.17 in December from November's -2.1 level. The Commission also reported that its economic confidence indicator also surprised to the downside, tumbling all the way to a record low 67.1 for the month from November's 74.9 level. The five-year Bobl was down 14.0 ticks to 115.61, the two-year Schatz down 6.0 ticks to 107.56 and the March 2009 Euribor contract trading down 2.0 ticks to 97.81. The spread between the 10-year Bund and 10-year U.S. Treasury notes narrowed 1.486 bps to -72.00. UK 30-year bond yields were down 2.6 bps to 3.97%, five-year bond yields were down 4.8 bps to 2.76%, while yields on the two-year bond were down 9.3 bps to 1.69%. The March 2009 Short Sterling contract was up 5.0 ticks to 98.37. Yields on U.S. 10-year Treasury notes were down 0.4 bps to 2.490%. European stock markets were declining with the Eurostoxx down 35.85 points to 2148.25, the UK FTSE 100 down 58.25 points to 4449.262 and the German DAX down 79.49 points to 4857.98. The Japanese Nikkei was trading down 362.82 points to 8876.42. The Canadian dollar was down 0.60 cents to 0.8313 against the USD (1.2031 USD/CAD). Against the euro, the loonie was down 0.12 cents to 0.6127 (1.6323 CAD/EUR). The U.S. dollar was down 0.99 to 91.66 and the euro was down 2.07 to 124.36, both against the yen. The euro was down 0.79 cents to 1.3567 while the pound sterling was down 0.63 cents to 1.5037, both against the USD. The euro was down 0.08 cents to 0.9025 pounds. The Swiss franc was up 0.01 cents to 1.1015 against the USD and up 0.83 cents to 1.4947 against the euro. All data were taken at 5:36 a.m. EST. Generated by CEP Newswires CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News. A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer. |
