Euro zone yields fell slightly on Wednesday in low volumes ahead of the Easter holidays, with investors waiting for key inflation data from both sides of the Atlantic.
Euro zone bond yields dip, with inflation in focus
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Spain will issue inflation figures later in the session, France, Italy and the US on Friday, while German and euro area-wide data is due next week.
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Markets slightly scaled back their bets on 2024 ECB rate cuts to 90 basis points (bps) earlier this week as Atlanta Federal Reserve Bank President Raphael Bostic said on Friday he expects just a 25-bps Fed cut in 2024.
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Germany’s 10-year bond yield, the benchmark for the bloc, was down 1.5 bps at 2.33%.
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Italy’s 10-year bond yield was 1 basis point lower at 3.65%, with the closely watched gap to Germany’s 10-year yield at 130 bps.
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Germany’s two-year bond yield, which is more sensitive to European Central Bank rate expectations, dropped one basis point to 2.84%.
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