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German bond yields fall as UK gilts see some respite

Euro zone bond yields rise after U.S. jobs data
Euro zone bond yields rise after U.S. jobs data Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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- Germany's borrowing costs fell on Tuesday, reversing an earlier rise, thanks to a modest recovery in British gilts, but yields were still pinned near multi-year highs, with investors positioned for more interest rate hikes.

The benchmark Germany 10-year government bond yield was last down 4 basis points to 2.054%, off an earlier high of 2.16%.

UK bond prices recovered partially on Tuesday from the historic plunges of the last couple of trading days, when investors unloaded sterling assets in response to new finance minister Kwasi Kwarteng's borrowing plans.

UK 10-year gilt yields fell 11 bps to 4.14%, having risen by as much as 42.5 bps at one point on Monday.

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