EZ GDP see’s Spain’s and Italy’s Bonds advance

FXstreet.com (London) - The eurozone emerged from a record long recession in the second quarter, expanding 0.3% inter-quarter in the three months to June, surpassing estimates at 0.2% and leaving behind Q1’s 0.3% contraction.

However. the EURO currency remained almost unchanged after the better-than-expected EMU GDP print during the Q2, with the EUR/USD navigating around the 1.3260 region. Meanwhile, Italian and Spanish government bonds moved up as the data spurred demand for the region’s higher-yielding assets. Italian 10 yrs approached 10 week lows while German 1o yrs climbed to weekly highs. Spanish yields fell to 4.45 pct. Germany’s 10 yr bund yield was pretty steady at 1.80 pct.