DAX Climbs As Bond Yields Continue To Dip
(RTTNews) - German stocks advanced on Friday as yields across European government bonds eased amid bets on Fed and ECB rate cuts.
Federal Reserve Governor Christopher Waller told CNBC on Thursday that the U.S. central bank could lower interest rates multiple times this year if inflation continues to ease as expected.
He sees three or four quarter-percentage-point rate reductions this year "if the data cooperates." If the data doesn't cooperate, then you're going to be back to two and going maybe even one, he said.
The yield on the 10-year bund last traded at 2.494 percent, slipping for the third straight day.
ECB Governing Council member Yannis Stournaras said on Thursday that "policy should continue with a series of rate cuts at the next meetings." Traders expect a 100-basis point cut from ECB this year.
The benchmark DAX was up 105 points, or half a percent, at 20,760 after rising 0.4 percent the previous day.
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