Are central banks selling Treasuries? Probably, just not that much
Euro zone government bond yields rose on Tuesday, following US Treasury moves on Monday. Investors priced in around 90 basis points of European Central Bank rate cuts in 2024, in line with levels seen late on Thursday.
Euro zone government bond yields increased on Tuesday. Germany's 10-year bond yield rose 6 basis points to 2.35%. Italy's 10-year bond yield was up 10 basis points at 3.77%. The gap between Italy and Germany's 10-year yields was 139 basis points. Germany's two-year bond yield, sensitive to ECB rate expectations, rose 1 basis point to 2.83%. The yield increases come ahead of inflation figures from Germany and the euro area.
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