UPDATE 2-Growth worries keep German 10-yr 産する/生じる below 無, Italy 苦しむs

By Dhara Ranasinghe

LONDON, April 25 (Reuters) - Germany's 10-year 政府 社債 産する/生じる fell to a two-week low below 無 パーセント on Thursday, a day after a disappointing German Ifo 感情 調査する that 悪化させるd 関心s about the euro zone's 経済的な 見通し.

どこかよそで, Italian 社債 産する/生じるs rose 6-7 basis points ahead of a 重要な ratings review from S&P 全世界の, and on worries over 政府 infighting.

But German Bunds, the (判断の)基準 for the 地域, saw their 産する/生じるs 長,率いる 支援する に向かって 最近の 2-1/2-year lows on weak data from Europe's powerhouse economy.

News 夜通し only 追加するd to a sense that world 経済的な 条件s remain weak, supporting 直す/買収する,八百長をするd income markets.

South Korea's economy 突然に 契約d in the first 4半期/4分の1 of the year, while the 日本銀行 誓約(する)d to keep 利益/興味 率s "極端に low" at least through 早期に 2020.

The Bank of Canada on Wednesday held 利益/興味 率s 安定した but 除去するd 言い回し in its 声明 about the need for 未来 引き上げ(る)s.

"The subdued 全世界の 経済的な 背景 and the dovish トン from central banks means a 延長/続編 of the 傾向 in 社債 markets seen in 最近の days," said Commerzbank 率s strategist Rainer Guntermann.

"The euro zone 経済的な data, starting with the PMIs last week, have been 女性 than 推定する/予想するd."

Germany's 10-year 社債 産する/生じる touched a two-week low at minus 0.019 パーセント, having dropped 支援する into 消極的な 領土 after Wednesday's Ifo 感情 索引 fell short of 期待s. They were 始める,決める to の近くに the day at minus 0.01 パーセント, flat on the day.

Most 10-year euro zone 社債 産する/生じるs were marginally higher on the day after hefty 落ちるs of 5-6 basis points the previous day .

A 重要な 計器 of the market's long-称する,呼ぶ/期間/用語 euro zone インフレーション 期待s 一方/合間 dipped below 1.40 パーセント, having touched a one-month high earlier this week.

"We think the 消費者物価指数 (消費者 price 索引) profile is going to be a lot lower than the market 心配するd at the start of 2019," said Rabbani Wahhab, 上級の 直す/買収する,八百長をするd income 大臣の地位 経営者/支配人 at London and 資本/首都 in London.

"So all in all, we 推定する/予想する this 無 or 消極的な 環境 for 10-year Bund 産する/生じるs to stay for some time come."

In Italy, 10-year 社債 産する/生じるs were up to seven bps higher on the day, with the Italian/German 社債 産する/生じる gap hitting its widest in two months at 270 bps.

The gap between Spanish and safer German 政府 社債 産する/生じるs has also 広げるd this week, a move 分析家s せいにするd to 警告を与える ahead of Spanish 選挙s this 週末 and Friday's S&P review of Italy's ratings.

Spain's 選挙 is its most 意見の不一致を生じる in 10年間s and the 結果 is uncertain, with no 選び出す/独身 party の近くに to winning a 議会の 大多数.

"We can't say for sure what the make-up of the next 連合 will be, but I don't think it will challenge the 合意 (on Europe)," said Michael Krautzberger, 長,率いる of BlackRock's pan-European 直す/買収する,八百長をするd income team.

"So I'm not too nervous about the Spanish 選挙."

Italy's 政府, 一方/合間, 認可するd an 経済成長 計画(する) in the 早期に hours of Wednesday after a bad-tempered 閣議 that exposed 分割s in the 判決,裁定 連合 and fuelled 憶測 that it could 崩壊(する).

(報告(する)/憶測ing by Dhara Ranasinghe, 付加 報告(する)/憶測ing by Abhinav Ramnarayan; Editing by Catherine Evans and Jan Harvey)

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