German Bond Yields Update

An overview of the generic 2-year, 10-year and 30-year German Government Bond yields.

All comments regard yields, not bonds: “new uptrend” = uptrend in yields and thus a bear market in bonds. 

2-year yields

Note: Negative yields are printed in red. We have omitted the ‘minus’ sign for clarity. 

The correction since early 2018 has come to an end with the setting of a solid base above support (at 0.662%) followed by a trend breach. A resumption of the longer term trend is expected. Our focus is on 0.529% and the projection around 0.48% thereafter.

  • Near term trend: positive
  • Long term trend: positive
  • Outlook: resumption of uptrend, positive
  • Strategy: long yields
  • Support: 0.60% / 0.662%
  • Resistance: 0.529% / 0.48%
  • Outlook cancelled/neutralized below 0.662%

Daily chart German 2-year Yields

10-year yields

As long as yields hold above 0.494%, the uptrend on both the daily and weekly basis remains in play. Expect higher yields; our focus is on 1.065% for the next 2-4 months with 1.361% being a secondary and long-term target. Weakness only sets in below 0.494%

  • Near term trend: positive
  • Long term trend: positive
  • Outlook: consolidation in uptrend, positive
  • Strategy: hold-long yields
  • Support: 0.494% / 0.291%
  • Resistance: 0.613% / 0.763% / 1.065%* / 1.361%*
  • Outlook cancelled/neutralized below 0.494%

Daily chart German 10-year Yields

30-year yields

The overall outlook remains sort of neutral with – at best – a very slight uptrend channel. key levels come in at 1.038% and 1.40%.

  • Near term trend: neutral
  • Long term trend: neutral
  • Outlook: choppy and neutral
  • Strategy: neutral / avoid
  • Support: 1.038% / 0.775%
  • Resistance: 1.40% / 1.714%
  • Outlook cancelled/neutralized: n/a

Weekly chart German 30-year Yields