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EURO GOVT-Euro zone yields rise as Fed-led sell-off continues
June 24, 2013 / 11:52 AM / 4 years ago

EURO GOVT-Euro zone yields rise as Fed-led sell-off continues

LONDON, June 24 (Reuters) - Government bond yields rose sharply across the euro zone on Monday, extending last week’s rise triggered by the Federal Reserve’s plans to reduce monetary stimulus later this year.

Italian 10-year yields rose 18 basis points on the day to 4.76 percent, while equivalent Spanish yields were 12 bps higher at 5 percent. Other euro zone bond yields also rose.

German Bund futures fell 113 ticks to as low as 140.17, tracking losses in U.S. T-note futures which were down more than a point at 125-07/32.

“It’s ... this overall story of less liquidity support from central banks and it’s an ongoing market correction for almost three weeks now,” one trader said.

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