The major European indices are ending the session with solid gains. The France's CAC is leading the way with a 3.08% gain on the day.

The final numbers are showing:

  • German DAX, +2.79%
  • France's CAC, +3.08%
  • UK's FTSE 100, +0.86%
  • Spain's Ibex, +2.98%
  • Italy's FTSE MIB, +2.41%

In the European debt market, the benchmark 10 year yields are closing the session with mixed results after rising earlier in the day.

European 10 year yields
European 10 year yields

The German 10 year yield moved to a cycle high of 0.741%. That was the highest level since February 2018. Looking at the daily chart, the yield is up from a swing low of -0.099% back on March 7. At the time, the yield tested its 100 day moving average and found traders willing to lean against the yield level. The spike higher since then has taken the price up close to 84 basis points.

German tenure yield
German 10 year yield moves to highest level since Feb 2018