German two-year bond yield hits highest since 2008

By Harry Robertson and Alun John

LONDON (Reuters) – Germany’s two-year bond yield jumped to its highest level since 2008 on Thursday, rising back above the peak it hit in March before jitters in the banking system rocked global markets.

The two-year yield rose as to 3.393%, the highest since autumn 2008. It was last up 8 basis points at 3.372%. Yields move inversely to prices.

Global yields, which were already higher on the day, rose further after data showed that U.S. private payrolls increased much more than expected in June.

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