Euro zone government bond yields rose on Tuesday, playing catch-up with U.S. Treasury moves on Monday when economic data raised doubts about whether the Federal Reserve could deliver three interest rate cuts this year. ** Euro area markets, which opened after a holiday, await inflation figures from Germany later in the session and from the euro area on Wednesday.
** Investors priced in around 90 basis points (bps) of European Central Bank (ECB) rate cuts in 2024 , in line with the levels seen late on Thursday. ** Germany's 10-year bond yield, the benchmark for the bloc, was last up 6 bps at 2.35%.
** Italy's 10-year bond yield was up 10 bps at 3.77% , with the closely watched gap to Germany's 10-year yield at 139 bps. ** Germany's two-year bond yield, which is more sensitive to ECB rate expectations, was last 1 bps higher at 2.83%.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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