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2025-12-15 18:20:51
[German Bond Curve Steepening Pauses, Long-Term Yields Touch 10-Year Psychological Barrier] ⑴ The spread between German 5-year and 30-year bond yields remained virtually unchanged during the day. The curve had steepened by approximately 4 basis points over the previous trading days, rebounding from a low of 95.5 basis points. Trend support is at 95 basis points, with key support below at 92 basis points. ⑵ If the spread rebounds, the next resistance levels to watch are 101 basis points, the November 21 high of 106.5 basis points, and the September 3 high of 111 basis points. ⑶ The 5-year bond yield peaked at 2.52% on December 10th, before falling back by about 6 basis points, showing some signs of topping out in the short term. ⑷ The 30-year yield hit a new high on Friday, almost touching the significant psychological level of 3.50%, its highest level since 2011. (5) If this level is broken, the price may encounter strong resistance near the historical level of 3.55%, and a further break could trigger more stop-loss buying. The yield had already fallen back to 3.46% on Monday.
