That is the reality that holders of Germany’s government bonds now must face. The value of German bonds — considered a shelter from Europe’s debt storm during the last two years — has started to fall, now that investors sense a calming in other European waters.
Euro-area services and manufacturing output contracted more than economists forecast in March on declining domestic demand, adding to signs that the region’s economy is sliding into recession.
A euro-area composite index based on a survey of purchasing managers in both industries dropped to 48.7 from 49.3 in February, London-based Markit Economics said in an initial estimate today. Economists forecast a gain to 49.6, according to the median of 21 estimates in a Bloomberg News survey. A reading below 50 indicates contraction.
Read more on the Time>
McDonald’s longtime Chief Executive Jim Skinner, who took control of the world’s largest hamburger chain while it was turning around a business that had fallen flat and then added layer upon layer of success, announced his retirement Wednesday night.
To receive new articles instantly Subscribe to updates.
