October 4, 2018 / 6:40 AM / 2 months ago

Euro zone bond yields surge after U.S. 10-yr yield breaches 3.20 pct

LONDON, Oct 4 (Reuters) - Euro zone government bond yields rose sharply on Thursday after upbeat U.S. data sent Treasury yields to multi-year peaks and bolstered the case for the Federal Reserve to raise interest rates again in December and beyond.

Germany’s 10-year bond yield hit a 4-1/2 month high of 0.55 percent, up eight basis points on the day, while other euro zone bond yields were up 4-7 bps across the board .

This came as 10-year U.S. Treasury yields climbed another 5 bps on Thursday morning to a fresh seven-year peak of 3.23 percent.

German Bund futures opened 94 ticks lower at 157.99. (Reporting by Abhinav Ramnarayan, Editing by)

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