European bond yields little changed before a busy week

European bond yields held below one-week highs on Monday as investors awaited a big week, with the Federal Reserve and European Central Bank meeting and a UK election due.

Markets took some unexpectedly strong German trade data in their stride. Disappointing data last week, including weak industrial production, painted a mixed picture of the economy. Yields on 10-year German government debt were steady at -0.30%, just below Friday's high of -0.27%, the highest since Dec. 3.

"Markets are broadly in wait-and-watch mode before the events this week," said Daniel Lenz, a rates strategist at DZ Bank. New European Central Bank boss Christine Lagarde holds her first policy meeting on Thursday. She is expected to signal a commitment to the ECB's recent stimulus package, with no policy changes.

The Fed is also expected to hold fire on Wednesday. Futures markets foresee no change in policy interest rates. Germany's exports rose unexpectedly in October, a morale boost for Europe's largest economy. It has been on the brink of recession in recent quarters, but industrial output and PMI survey data last week showed an economy trying to gain traction. and

Elsewhere, U.S. Treasury yields shed some of Friday's rise after data showed job growth increased by the most in 10 months in November. Benchmark U.S. Treasury yields dipped 2 basis points to 1.8242% after rising to 1.8640% on Friday, its highest level in nearly a month.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)