August 8, 2019 / 1:25 PM / 4 months ago

German bond yields, stocks rise after official flags possible fiscal U-turn

LONDON, Aug 8 (Reuters) - German government bond yields rose and the stock market extended gains on Thursday after a senior government official told Reuters that Berlin was considering a fiscal policy U-turn to issue new debt to finance a climate protection package.

The German 10-year bond yield was last up as much 5 basis points on the day at -0.523%, while the 30-year bond yield rose as much as 8 basis points to -0.022%.

Germany’s DAX 30 hit the day’s high, with the index up 1.1%.

European government bonds have enjoyed a blistering rally in recent sessions as investors fearful of a global economic downturn looked for safety. The 10-year German bond yield is now headed for its first rise after nine days of falls. (Reporting by Tommy Reggiori Wilkes and Virginia Furness)

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