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Euro zone bond yields drop as ECB says will raise PEPP buying

Published 11/03/2021, 14:01
Updated 11/03/2021, 14:06
© Reuters

March 11 (Reuters) - Euro zone bond yields tumbled on
Thursday after the ECB said it would conduct emergency bond
purchases at a significantly higher pace over the next quarter
to combat a recent rise in bond yields.
Germany's 10-year yield, the benchmark for the region,
extended its fall and was down 4 basis points at 1255 GMT to its
lowest in over a week at -0.36%. DE10YT=RR
Benchmark 10-year yields in Italy -- among the biggest
beneficiaries of ECB bond purchases -- fell 7 basis points to
0.62%, the lowest in over two weeks. IT10YT=RR
The euro lost some of its gains from earlier in the session,
dipping as low as $1.1942 after the announcement, from around
$1.1957 before.
Euro zone banks .SX7E accelerated their losses sharply
following the statement, trading down 1.3% and hitting their
lowest level of the session.

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