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Euro zone bond yields hold steady as BOJ ends negative rates
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Euro zone bond yields hold steady as BOJ ends negative rates
Mar 19, 2024 12:55 AM

LONDON, March 19 (Reuters) - Euro zone bond yields were

little changed on Tuesday, with the focus of global markets on

the Bank of Japan, which ended eight years of negative interest

rates.

** Germany's 10-year bond yield, the benchmark for

the euro zone, was last up less than 1 basis point (bp) at

2.462%.

** The 10-year yield has risen over the past week as U.S.

economic data has come in stronger than expected, causing

investors to rein in bets on Federal Reserve rate cuts.

** Germany's 2-year bond yield was also up less than

1 bp at 2.923%.

** The BOJ set the overnight call rate as its new policy rate

and decided to guide it in a range of 0-0.1%. Its key rate

previously stood at -0.1%.

** Analysts told Reuters that rates would most likely have to

rise further before Japanese investors started pulling out of

foreign bond markets to return cash home.

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