Euro zone bond yields climb as central banks talk tough on rates

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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