German 10-year bond yield turn negative for first time since 2016 amid fears of recession
Germany's 10-year government bond yields slipped into negative territory on Friday for the first time since October 2016.
IHS Markit's PMI survey published Friday revealed that Germany's manufacturing sector contracted for the third consecutive month in March, with output growth nearing a six-year low. Meanwhile, data from Germany's federal statistics office in February showed that the country narrowly avoided a recession in the fourth-quarter of 2018, with the economy growing 0.0 percent from the previous quarter.
Adding to the slowdown in Germany is the uncertainty surrounding Britain's exit from the European Union. In the latest, the European Union agreed to an extension to the date of the U.K.'s withdrawal from the bloc, but said the length of the delay would depend on whether Parliament approves Prime Minister Theresa May's Brexit deal next week.
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