Euro bond rates
Eurozone government bond yields shot higher on Thursday after European Central Bank President Mario Draghi said there’s no longer a “sense of urgency” over the need to take additional measures to support the eurozone economy.
The ECB chief also said the central bank’s Governing Council didn’t discuss holding another round of targeted longer-term refinancing operations, known as TLTROs, at its latest meeting. The TLTROs provide ultracheap loans to European banks to help spur lending growth. The program is set to expire this month.
The yield on the 10-year German bund TMBMKDE-10Y, -3.43% considered the European benchmark, rose 5.3 basis points to a one-month high at 0.429%, according to Tradeweb data, while the yield TMBMKFR-10Y, -3.07% on the 10-year French bond rose 4.7 basis points to 1.086%, its highest level in two weeks. The yield on the 10-year Italian bond TMBMKIT-10Y, +0.36% climbed 4.1 basis points to 2.313%.
Meanwhile, the yield on the Spanish 10-year government bond TMBMKES-10Y, -0.29% rose 2.1 basis points, reaching its highest end-of-day level since December 2015.
Check out: A recap of ECB’s news conference
In his opening statement, Draghi noted that inflation and economic growth in the eurozone have improved, but he also highlighted the fact that rising food and energy costs have been responsible for the bulk of the increase in consumer prices. And in its first batch of economic projections released in the new year, the central bank dialed up its expectations for the pace of growth and inflation in 2017 and 2018.
These projections “highlight the needle that the ECB and President Draghi are attempting to thread, one where the outlook has improved, while supporting the desire to remain dovish, ” said Marvin Loh, senior global markets strategist at BNY Mellon.
Draghi defended the euro, saying the single currency is “here to stay, ” while emphasizing that the region still needs the ECB to maintain its substantially “accommodative” monetary policy stance.
See: Mario Draghi in no hurry to pull plug on ECB stimulus
In a research note published during the news conference, Peter Boockvar, managing director and chief market analyst at the Lindsey Group said Draghi was trying to maintain a balanced tone.
“He’s trying to straddle the line of acknowledging the better economic data, the uptick in headline inflation and that downside risks have diminished with saying that core inflation is still low, country reforms are still slow and he thinks “present policy stance is appropriate, ” Boockvar said.
Earlier, the ECB left its benchmark rate at 0%, and the interest rate on its deposit facility at minus 0.4%. It also confirmed that, beginning in April, it would lower the amount of its monthly bond purchases to €60 billion ($56.6 billion) from €80 billion ($75.5 billion).school success short success quotes singing success skin success standard for success struggling from success study to success success academy videos success antonym success auto sales success baby success clipart success doesn't come from what you do occasionally success image success images success in life success inspirational quotes for work success is counted sweetest success mindset success motivational quotes for work success overnight success positive affirmations success positive motivational quotes success quotes success quotes for men success realty success sharing home depot success sharing home depot success synonyms success thesaurus success through a positive mental attitude success wallpaper success words technaflora recipe for success tethered spinal cord surgery success rate the key success factors in an industry the key to success tarkov the national society of leadership and success reviews the seven spiritual laws of success there is no elevator to success tools for success was reconstruction a success what does a customer success manager do what is the success rate of a spinal cord stimulator attitude eagle quotes success bumble success stories dress for success denver foster care to success how do you spell success lake success, ny membrane sweep success rate misdiagnosed blighted ovum success stories opposite of success performance manager 4 success factors provera pregnancy success success good luck wishes success hunters success in latin success is no accident quotes the law of success celebrate success continuing success goal success quotes ivf success key to success in life magnet of success married at first sight success rate quotes about failure and success slug success success affirmations success credit union success interviews success quotes for business success rate of iui vitrectomy success rate what does a customer success manager do amazon onsite interview success rate ivf calculator success keto success motivate for success ralph waldo emmerson success stem cell transplant success rate study to success success books success companies success is not final, failure is not fatal: it is the courage to continue that counts. success mantra success pronunciation success quote success vision paducah ky the law of success weight watchers success stories achieves success animal mating success ankle ligament surgery success rate attitude eagle quotes success borat great success castor oil at 37 weeks success cdc ivf success rates center for academic success cerebral success class room for success crystal for success customer success metrics director of customer success salary dress for success locations near me equipped for reading success failure and success quotes geritol pregnancy success stories 2020 hotel dash suite success how do you define success interview question how i raised myself from failure to success in selling isaac success iui success stories 2020 ivf success rates by age 2020 ivf success stories john wooden success quote key to success lake success, new york late ovulation pregnancy success liver transplant success rate lumbar radiofrequency ablation success rate mantras for success march to success metformin weight loss success stories mindset the new psychology of success motivational quotes for students success motivational quotes for work success motivational speeches for success outliers the story of success p shot success rate pearson success net peloton success stories pillars of success positive quotes about success prayer for exam success prayer for success at work quotes for future success quotes success rowing machine weight loss success stories rowing machine weight loss success stories scentsy success secret to my success seven spiritual laws of success pdf skill success skill success success success academy middle schools success criterias success factor success meanings success motivation success nutrition facts success plan template success quotes for work success rice success rice out of the bag success thesaurus success vision express success vision topeka success vision topeka sweet success cucumber the 10x rule: the only difference between success and failure the 7 spiritual laws of success the secret of my success the secrets of lake success tips for success topamax and phentermine weight loss success stories 2020 tti success insights vaccine success vasectomy success rate weaning off cymbalta success stories what is success to you framing success plan for success student success center gcu student success completion grant success companies success driving school