Germany 10-Year Yield Falls After Disappointing US Jobs Data

2025-09-04 13:55 By Joana Ferreira 1 min. read

Germany’s 10-year government bond yield slipped toward 2.7%, following US Treasuries lower after soft US labor data reinforced expectations that the Federal Reserve will resume rate cuts in September.

The latest ADP survey showed private businesses added just 54,000 jobs in August, a sharp slowdown from July and well below forecasts of 65,000.

Other indicators pointed to a cooling labor market, with job openings in July falling to their lowest since September 2024 and jobless claims reaching a two-month high.

Investors now await the release of August nonfarm payrolls Friday.

In Europe, fiscal concerns rose as Germany’s medium-term finance plan anticipates around €500 billion in net new borrowing through 2029 to fund infrastructure and defense spending.

Political risks are also in focus, with France’s prime minister facing a confidence vote on September 8.



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