Bets that US stimulus would boost inflation and growth pushed government bonds worldwide to their worst performance in years in February. Central banks so far have appeared relatively sanguine about the rise in bond yields.
On Thursday, Germany's 10-year yield was down around 3 basis points at -317% at 1610 GMT, after rising 5 basis points on Wednesday.
Yields are down from their highs this week, but pressure remains. US Treasury yields rose on Wednesday, alongside euro area government bond yields and UK gilts, pushing stock markets and other low-yielding safe assets lower on Thursday.
Italian bond yields were last unchanged, pushing up the gap between 10-year Italian and German yields a touch higher to around 104 bps.
After major benchmarks on Monday marked their best daily performance since June 2020, euro area bonds calmed on Tuesday. Germany's 10-year yields, the benchmark for the region, rose 2 basis points to -0.32% at 1140 GMT.
Southern European bonds came under renewed pressure, with Italian bonds underperforming. The 10-year yield rose 4 basis points to 0.71%.