LONDON, Dec 23 (Reuters) - Long-dated German bond yields

retreated from a 14-year high on Tuesday as a selloff in global

government bonds paused.

Bond yields, which move inversely with prices, were lower

globally in thin trade before the Christmas holidays

.

Japanese bond yields, ‌which had led the selloff in the

previous two sessions, rising to all-time peaks on many ​tenors,

led the rally on Tuesday.

Germany's 30-year yield, which rose to its

highest ‍since 2011 at 3.56% on Monday, was down ⁠3 basis points

to ⁠3.51% by 0747 GMT.

Its 10-year yield, the benchmark for the euro

zone, was down at ‌2.88%.

Other safe-haven assets such as gold ​and silver hit record

highs on Tuesday, driven in part by safe-haven demand from

geopolitical tensions as the United States ⁠sought to seize more

tankers carrying Venezuelan ‍oil. GOL/

Focus ​was also on expectations over the European Central

Bank, where top hawk Isabel Schnabel said on Monday she expects

no interest rate ‍hike in the foreseeable future but that

prevailing inflationary pressures mean borrowing costs will

eventually need to rise.

"That was significant, because it was Ms. Schnabel who'd

said earlier this month that she was 'rather comfortable' with

expectations about the next move being a hike, which led

investors to price ​in a ‍growing probability that would happen as

soon as 2026," Deutsche Bank analysts said in a note to clients.

Traders were on ​Tuesday betting on an about 40% chance of an

ECB rate hike by March 2027 - similar to after last week's ECB

meeting, where policymakers kept rates on hold at 2%.

They had priced in over a 50% chance of a hike in early

December after Schnabel's initial comments.

In other developments, France's government will push

lawmakers ​to approve emergency legislation to keep the state

running into January after they failed to agree on a 2026

budget.

The closely watched spread French debt pays over Germany's

was little ‍changed at around 70 bps.