Eurozone Bond Yields Open Higher, Thursday's ECB Decision in Focus
Dow Jones
Sep 07
0719 GMT - Eurozone government bond yields rise in early trade as oil prices increase and investors focus on the European Central Bank's interest-rate decision on Thursday. Markets fully price a 25-basis-point rate hike as the ECB aims to prevent second-round inflation in the wake of high energy prices which have pushed up headline inflation. "Even though hiking by 25 basis points seems a given, we think the balance of risk is towards a dovish market reaction," ING senior European rates strategists Benjamin Schroeder and Michiel Tukker say in a note. "Markets are already pricing in a landing zone of around 3%, which we deem on the hawkish side." The 10-year Bund yield rises 1.2 basis points to 3.353%, according to Tradeweb.
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