June 28, 2017 / 6:23 AM / a year ago

Euro zone bond sell-off gathers pace on ECB exit bets

LONDON, June 28 (Reuters) - Euro zone bond yields rose sharply for a second straight day on Wednesday on expectations the European Central Bank will announce a reduction of stimulus as soon as September.

Yields rose sharply after ECB President Mario Draghi on Tuesday opened the door to tweaks in the bank’s aggressive stimulus policy, with short-dated German yields hitting a one-year high.

Germany’s benchmark 10-year yield, which struck a one-month high on Tuesday, rose a further 5 basis points when markets opened on Wednesday, to just shy of 0.40 percent.

All other euro zone equivalents rose between 4 and 7 basis points, according to Tradeweb data. (Reporting by John Geddie, Editing by Helen Reid)

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