German bond yields rose sharply on the US non-farm payrolls day and then fell back down, with long-term German bond yields dropping by more than 3 basis points.

At the close of the European market on Wednesday, the yield on German 10-year government bonds fell by 1.6 basis points to 2.792%. During the release of the US non-farm payrolls report at 21:30 Beijing time, the yield rose from below 2.8% to 2.824%, hitting a daily high before gradually retracing towards the daily low of 2.791% set at 17:54. The yield on two-year German bonds fell by 0.3 basis points to 2.066%, trading within a range of 2.061% to 2.093% during the day. The yield on 30-year German bonds fell by 3.4 basis points, hitting a daily low of 3.456% before rising to a daily high of 3.501% at 21:30. The yield spread between 2-year and 10-year German bonds decreased by 1.345 basis points to +72.393 basis points.