Euro zone government bond yields ticked lower on Wednesday after jumping on Tuesday as investors braced for further interest rate hikes from the European Central Bank, while UK yields rose as traders played catch-up following a long weekend. The yield on Germany’s 10-year government bond, which is seen as the benchmark for the euro zone, was down 1 basis point (bps) to 2.50%. It rose 12 bps on Tuesday and touched 2.53%, just shy of its highest level since 2011. Yields move inversely to prices.
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