European inflation surged to 0.9% year over year in December, after rising 0.5% in November according to today’s statistical release.
While inflation matched expectations, yields in the bond market are rising.
Bloomberg: German 10-year bunds declined before this week’s debt auctions as reports showed German unemployment unexpectedly fell and European consumer prices increased.
The decline pushed the yield on the benchmark security to within 2 basis points of yesterday’s three-month high.
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