Euro zone bond yields slip as markets add to ECB rate cut bets
ECB officials are sticking to plans to begin lowering interest rates from their record high in June, with markets now pricing in around 78 basis points (bps) of easing this year, or around three quarter-point cuts. Germany's 10-year bond yield, the benchmark for the euro zone bloc, was last down 1.5 bps at 2.47%.
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Eurozone government bond yields fell slightly on Tuesday as traders increased bets on rate cuts from the European Central Bank, while eyes turned to Purchasing Managers' Index data for hints on how fast rates may fall. ECB officials are sticking to plans to begin lowering interest rates from their record high in June, with markets now pricing in around 78 basis points (bps) of easing this year, or around three quarter-point cuts.
Germany's 10-year bond yield, the benchmark for the euro zone bloc, was last down 1.5 bps at 2.47%. Italy's 10-year yield was lower by 2.5 bps at 3.80%, and the gap between Italian and German bunds narrowed by 1 bp to 130 bps.
Germany's two-year bond yield, which is more sensitive to ECB rate expectations, was down 1.5 bps at 2.96%.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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