LONDON, Aug 11 — Euro zone bond yields steadied ahead of crucial US inflation data that is expected to set the tone for markets today. US consumer prices are expected to have risen 5.3 per cent year-on-year in July, according to a Reuters poll, slightly below last month’s 5.4 per cent but...
LONDON, Aug 11 — Euro zone bond yields steadied ahead of crucial US inflation data that is expected to set the tone for markets today.
Two US Federal Reserve officials said this week that inflation is already at a level that could satisfy one leg of a key test for the beginning of rate hikes and this has furthered investor focus on when the Fed might start tapering its bond buying. Today, Germany’s 10-year yield, the benchmark for the euro area, was unchanged on the day by 0651 GMT at -0.45 per cent, below the highest since August 2 at -0.447 per cent touched yesterday.But while 10-year US Treasury yields are up 6 bps this week, German 10-year bonds have outperformed, as yields are unchanged. Bond yields move inversely with prices.
The outperformance of German Bunds has further widened the gap between 10-year German and US Treasury yields to over 181 bps, the widest since June. Bond yields move inversely with prices.
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