The two-year German bond yield fell more than 9 basis points this week, as Trump's threat of tariffs against the European Union disrupted the sideways trading that was seen earlier in the week.

At the end of the day on Friday in the European market, the yield on Germany's 10-year government bonds fell by 7.6 basis points to 2.567%, with a cumulative decline of 2.3 basis points for the week, showing an overall M-shaped trend. At 17:30 Beijing time on May 21, it rose to 2.671%, but experienced a significant drop to 2.539% at 19:42 on May 23. The 2-year German bond yield dropped by 6.7 basis points to 1.764%, with a cumulative decline of 9.1 basis points for the week, fluctuating around 1.850% from May 19-23. After US President Trump issued new tariff threats to the EU, there was a drop on May 23, with the yield falling to 1.707% at 19:51. The 30-year German bond yield dropped by 6.3 basis points to 3.088%, with a cumulative increase of 4.8 basis points for the week. The 2/10-year German bond yield spread fell by 0.910 basis points to +80.041 basis points, continuing to rise throughout the week with a total increase of 6.839 basis points.