PARIS, May 4: The rate on benchmark German 10-year bonds fell to an all-time low on Friday as concern about the eurozone’s economic prospects pushed investors into the continent’s financial safe-haven.

The yield, or rate of return for investors on German Bunds fell to 1.582 per cent, from 1.611 per cent late on Thursday.

“We had a series of bad statistics on both sides of the Atlantic. Europe is sinking into recession and the US recovery seems to be weaker than expected in light of the latest employment report,” said Rene Defossez, a bond strategist at Natixis bank.“All that encourages investors to take refuge in German debt,” he added.

In the 17-nation eurozone, private sector activity fell sharply in April, with even powerhouse Germany grinding to a halt as the bloc’s weaker southern members struggled, a key survey showed on Friday.—AFP