German 10 year yield moves up toward cycle highs
There is a headline saying that:
- Germany supports the joint EU debt for loans to combat the energy crisis
- German Chancellor Scholz showed an openness to use common borrowing on the sidelines of an EU summit in Prague last week
- details of not been sent out just yet
- Scholtz is reluctant to approve another debt-financed instrument that would include grants due to constant analogy of such a move
The 10 year yield in Germany has shot up on the news. Looking at the hourly chart below, the 10 year yield has moved up to a high of 2.339% that is just short of the September 28 cycle high of 2.352%.
Looking at the weekly chart, the cycle high from the end of September reached the highest level since November 2011.
