Germany's two-year government bond yield fell more than 6 basis points on Friday, while the 10-year French bond yield rose more than 5 basis points this week.

On Friday's European market close, the yield on German 10-year government bonds fell by 3.6 basis points to 2.995%, with a cumulative decline of 4.3 basis points for the week. From June 8-11, it mainly held steady above 3.040% before rising to 3.091% a few hours before the European Central Bank announced a rate hike, and then continued to drop, hitting 2.964% on the early trading session of June 12. The yield on 2-year German bonds dropped by 6.2 basis points to 2.617%, with a cumulative decline of 7.6 basis points for the week, trading overall in the range of 2.729%-2.584%. The yield on 30-year German bonds fell by 1.5 basis points to 3.549%, with a cumulative decline of 2.1 basis points for the week. The 2/10-year German bond yield spread increased by 2.420 basis points to +37.559 basis points, with a cumulative increase of 3.126 basis points for the week.