Eurozone Bond Yields Rise as Brent Oil Price Move Closer to $100 Per Barrel
Dow Jones
Sep 09
0701 GMT - Eurozone bond yields rise, responding to higher oil prices, while investors' focus remains on the European Central Bank's interest-rate decision on Thursday. "Euro rates continue to trade largely as a function of energy rather than domestic fundamentals," Mizuho's Evelyne Gomez-Liechti says in a note. Money markets have fully priced in a 25-basis-point rate increase which would bring the deposit rate to 2.50%. Therefore, the main question for investors is what changes the ECB will make in its new GDP and inflation forecasts, and what signals it gives for the future policy path. Brent oil is up 1.7% at $99.59 per barrel. The 10-year German Bund yield rises 1.9 basis points to 3.375%, according to Tradeweb.
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