Commerzbank: German government bonds are expected to stabilize as the Fed is about to cut interest rates

Rainer Guntermann, interest rate strategist at Commerzbank Research, said German government bonds may stabilize at the beginning of this week as the market looks forward to the Fed's interest rate decision on Wednesday. He said: "The new round of downward trend in yields seems limited because front-end valuations look too high and face very optimistic anti-inflation hopes." The money market is still divided on whether the Fed will start the rate cut cycle with a 25 basis point or 50 basis point cut. Commerzbank economists expect the bank to cut interest rates by 25 basis points, "because the (Federal Reserve) first priority will be to start the rate cut process, which may be followed by a series of rate cuts." According to Tradeweb data, the 10-year German government bond yield fell 1 basis point to 2.141%.

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