January 31, 2019 / 7:39 AM / 6 months ago

German yields hit 4-week low after U.S. Fed discards rate hike promises

LONDON, Jan 31 (Reuters) - German bond yields dropped to a four-week low on Thursday after the U.S. Federal Reserve signalled its three-year drive to tighten monetary policy might be at an end amid a cloudy outlook for the world’s largest economy.

The yield on Germany’s 10-year bond, the benchmark for the euro zone, dropped two basis points to 0.162 percent, tracking U.S. 10-year Treasury yields lower, which also hit a new two-week low in European trading.

Most other euro zone bond yields were between 1-3 bps lower, and France’s 10-year bond yield dropped to its lowest in over two years at 0.573 percent, down 2 bps on the day. (Reporting by Abhinav Ramnarayan; Editing by Tom Finn)

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