The German 5/30 year yield curve steepens moderately as the long end rebounds after six consecutive declines

(1) The German 5-year and 30-year government bond yield curve has flattened over the past few trading days, hitting a low of 76 basis points yesterday before making a slight rebound. The previous low is located at the double bottom of 73 basis points at the end of April, with resistance levels to watch at the breakdown of 82 basis points and the high of 87 basis points. (2) The 5-year yield has rebounded from the recent low of 2.63%, with resistance above at 2.75% and at the trendline of 2.78%. The 30-year yield reversed today after six consecutive trading days of decline, with a low of 3.455% and further downside looking to 3.41% on April 1, resistance at 3.55%, and trend resistance at 3.59%.