Eurozone Bond Yields Increase as More ECB Rate Rises to Come

May 5, 2023 2:32 am ET

0627 GMT – Eurozone government bond yields move higher, reversing from Thursday’s close, acknowledging the European Central Bank’s message of more interest-rate rises to follow. The ECB raised interest rates by 25 basis points on Thursday, bringing the deposit rate to 3.25%, with President Christine Lagarde stating multiple times at her press conference that there is “more ground to cover” and that the ECB isn’t pausing. The 10-year German Bund yield is trading around 4 basis points higher at 2.237%, according to Tradeweb. Increases in peer eurozone 10-year bond yields are broadly of the same magnitude. (emese.bartha@wsj.com)