DAX Shows Limited Movements
The German DAX stock index remains almost unchanged today. The DAX is trading at 12.295 level, having gained 0.07% on the day. Despite the DAX is in red territory on Thursday, German banks are showing strong gains, boosted by higher Eurozone bond yields. Commerzbank has jumped 3.25% and Deutsche Bank has climbed 2.00%.
The Eurozone bond yields were boosted by rising US Treasury yields, which rose to their highest level since 2011. German 10-year bund yields climbed six basis points to 0.53%, after touching 0.55% (the highest since September 25). Italian bonds opened stronger before erasing gains, with 10-year yields four basis points higher at 3.35%.
After better than expected private payroll numbers, investors are looking ahead to jobless claims numbers ahead of the government non-farm payrolls report for September on Friday. Initial jobless claims are forecast to fall to 211.000 from the week before.