The two-year German bond yield rose more than 7 basis points on the European Central Bank's rate cut day, as investors' concerns about the global trade tensions eased.

At the end of the European market on Thursday, the yield on German 10-year government bonds rose by 5.5 basis points to 2.582%, trading in a range of 2.476% to 2.592% during the day. Following the announcement of a rate cut by the European Central Bank and before President Lagarde's press conference, the yield hit a daily low and then rebounded strongly to hit a daily high. The yield on 2-year German bonds rose by 7.4 basis points to 1.873%, trading in a range of 1.768% to 1.882% during the day; the yield on 30-year German bonds increased by 2.5 basis points to 3.025%. The yield spread between 2-year and 10-year German bonds narrowed by 2.334 basis points to +70.216 basis points.