Euro zone government bond yields increased as central bankers expressed skepticism about market expectations of interest rate cuts in 2024. The 10-year bond yield in Germany, the bloc’s benchmark, rose to 2.647%, up from a two-month low of 2.606%. European bond yields have fallen recently due to a drop in US counterparts and weak economic data. ECB Vice President Luis De Guindos stated that it was premature to discuss rate cuts. Traders are betting on a 90 bps rate cut by the ECB by the end of 2022.
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