Investor confidence in the German economy declined for a fourth month in September after global supply disruptions worsened and infection rates surged, threatening to disrupt Europe’s strong recovery. The ZEW institute’s gauge of expectations fell to 26.5 from 40.4 the previous month, the lowest in 1 1/2 years. The outlook for the euro zone also deteriorated, after the economy grew faster than initially reported in the second quarter. European bonds extended their decline following the two reports, with the yield on 10-year German debt rising four basis points to -0.33%. “We can’t really expect the same dynamic for the second half of the year as we initially anticipated,” said Christian Lips, chief economist at NordLB. “The recovery could have been significantly stronger in the third quarter if it weren’t for the supply […]