March 2, 2018 / 7:42 AM / 6 months ago

German 10-year bond yield fall to 5-week low

LONDON, March 2 (Reuters) - Germany’s 10-year government bond yield fell to a five-week low on Friday as U.S. President Donald Trump’s plan for stiff tariffs on steel and aluminium, as well as an Italian election this weekend boosted demand for safe-haven bonds.

The German Bund yield fell to as low as 0.618 percent , down 2 basis points on the day. It was set for its fourth straight week of falls.

Trump announced on Thursday he would impose hefty tariffs on imported steel and aluminium to protect U.S. producers, risking retaliation from major trade partners like China, Europe and neighbouring Canada as well as helping to trigger a large selloff on Wall Street. (Reporting by Dhara Ranasinghe; Editing by Saikat Chatterjee)

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