Eurozone bond yields steady after rate-repricing induced fall

Euro zone yields steadied on Wednesday after falling to multiple-week lows as recent weak U.S. jobs data led investors to increase their bets on interest rate cuts from the Federal Reserve and the European Central Bank this year.

Germany's 10-year bond yield, the benchmark for the euro zone, edged 1.8 basis points (bps) higher to 2.43%. On Tuesday, it touched its lowest since April 15. Italy's 10-year yield was higher by 2.1 bps at 3.78%, and the gap between Italian and German bond yields widened 1.5 basis points to 134 bps.

Germany's two-year bond yield, which is more sensitive to European Central Bank rate expectations, was up 1.1 bps at 2.91%.

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