LONDON: Euro zone bond yields rose again on Monday to new multi-month highs as strong US jobs data from Friday continued to put pressure on global debt markets.
Germany’s 10-year bond yield, the benchmark for the euro zone bloc, rose to 2.6% in early trading, the highest since July. It was last up 3 basis points (bps) at 2.594%.
Figures on Friday showed the US economy added 256,000 jobs in December, the most since March and well above economists’ expectations of 160,000.
Euro zone bond yields hold steady, down from six-week high
Italy’s 10-year yield was last up 4 bps at 3.812%, after touching its highest since November at 3.827% earlier in the session. Yields move inversely to prices.
The gap between Italian and German yields stood at 121 bps, the highest since early December.
Germany’s two-year bond yield, which is more sensitive to European Central Bank rate expectations, rose to 2.307%, its highest since November.
It was last trading 2 bps higher at 2.298%.
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