LONDON, March 25 - Euro zone bond yields rose on Monday, in a small reversal of the previous week's declines when a string of meetings by major central banks gave investors greater confidence that interest rate cuts will come by the middle of this year.
Germany's 10-year bond yield was up 3 basis points on the day to 2.35%. But after the euro zone benchmark yield dropped 11.5 bps last week, it is still is heading for its first monthly fall of 2023.Yields, which move inversely to prices, trended higher in January and February as traders pushed back expectations of substantial rate cuts until the middle of 2024, on the back of stronger than expected economic data, particularly in the U.S.The U.S.
"There will be some more data by April, but there will be even more data by June which will help the ECB’s decision-making process," said analysts at Natwest markets in a note. As well as overall inflation in the currency bloc, the ECB is particularly concerned about recent rapid wage growth. But chief economist Philip Lane said on Monday the central bank was increasingly confident that wage growth was slowing back towards more normal levels.
Source: Financial Digest (financialdigest.net)
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