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European bond yields inch higher as inflation data trickles in
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European bond yields inch higher as inflation data trickles in
Sep 1, 2024 12:29 PM

LONDON, Aug 29 (Reuters) - Euro zone bond yields rose

slightly on Thursday, as global markets moved past the potential

hurdle of tech giant Nvidia's ( NVDA ) earnings, with the focus in Europe

on inflation.

Data showed Spanish inflation fell to 2.4% year-on-year in

August, when adjusted to compare across the European Union, down

from 2.9% in July. Data for German states is due later on

Thursday before further national and euro zone-wide price

figures on Friday.

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

the euro zone bloc, rose 2.6 basis points (bps) to 2.28%, just

below Tuesday's one-month high of 2.3%. Yields move inversely to

prices.

Italy's 10-year yield was higher by 1.5 bps at

3.66%, and the gap between Italian and German bond yields

narrowed 0.4 bps to 137 bps.

Germany's two-year bond yield, which is more

sensitive to European Central Bank rate expectations, was up 1

bp at 2.39%.

(Reporting by Harry Robertson; Editing by Muralikumar

Anantharaman)

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