Here's a snapshot of things as we get European trading underway:
- 10-year Treasury yields -3.4 bps to 3.511%
- 10-year German bund yields -7.1 bps to 2.114%
- 10-year Italian bond yields -9.2 bps to 3.952%
Are market players that convinced of a softer inflation report later today? Or is this a signal that regardless of the data might say, we have reached a peak in terms of rates pricing for major central banks? It's certainly a curious move, especially in Europe, with both German and Italian 10-year yields at their lowest in a month.
