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German bonds, euro sell off after German court ruling

Published 05/05/2020, 09:40
Updated 05/05/2020, 09:42
© Reuters.
DE10YT=RR
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STOXX
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LONDON, May 5 (Reuters) - German bonds, the euro and euro
zone stocks sold off of on Tuesday after Germany's top court
said the ECB's bond purchases scheme partially violates the
constitution but did not violate the prohibition of monetary
financing of member states.
Germany's benchmark 10-year Bund yield was up 4 basis points
on the day at -0.518% DE10YT=RR -- a session high.
The euro EUR=EBS which was up 0.1% on the day before the
court ruling, gave up its gains after the verdict and slipped
back into negative territory before climbing back up again to
pre-ruling levels.
It was last trading at $1.0889, down 0.13% on the day.
European stocks cut some gains after the ruling. The
pan-European STOXX 600 .STOXX index was last up 1.6%.

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