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German exports fall in July

  • German exports fall 1.1% M/M in July, surprising economists who were expecting an increase of 0.7%.
  • The news seems to contradict recent data which shows the eurozone may be pulling itself out of the economic doldrums — the EU is Germany's largest trading partner.
  • Imports rise 0.5% and the Germany's current account surplus narrows to €14.3B.
  • Official release
  • 10-year bund (BUND, BUNL) yields tick 1 bps lower after hitting 17-month highs Thursday.
  • iShares MSCI Germany ETF: EWG
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