July 12, 2019 / 6:28 AM / 3 months ago

German Bunds set for worst week since Feb 2018 on economic data boost

LONDON, July 12 (Reuters) - Germany’s 10-year government bonds were set for their biggest weekly selloff since February 2018 on Friday as signs of economic strength in the United States and parts of Europe suggested fears of economic pessimism may be overdone.

Data showed U.S. underlying consumer prices increased by the most in nearly 1-1/2 years in June amid solid gains in a range of goods and services, adding to strong French industrial data from earlier in the week.

German 10-year bond yields hit a 3-1/2 week high of minus 0.25% on Friday, up 1.5 bps on the day and 10 bps on the week.

German bund futures were 24 ticks lower in early European trade at 171.58. Other euro zone bond yields were 1-2 basis points higher on the day. (Reporting by Abhinav Ramnarayan, Editing by Saikat Chatterjee)

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