Eurozone yields set for weekly rise on repricing of ECB rate hikes

A total of 33% of Greeks surveyed (up to 39% including those who said they don't know) responded that they receive from a quarter to three quarters of their income in cash; this is the highest in the eurozone, where the corresponding rates are 5% and 25%.

Eurozone government bond yields were headed for a weekly rise as robust economic data and hawkish remarks by central bank officials triggered some upward repricing in market bets about future European Central Bank rate hikes.

Investors remained cautious after US officials said President Joe Biden and congressional Republican Kevin McCarthy are closing in on a deal that would raise the government's $31.4 trillion debt ceiling for two years.

Euro area bonds are playing catch-up with US Treasuries as US 10-year yields rose by around 10 bps late Thursday after jobless claims data suggested persistent labor market strength.

Germany's 10-year yield, the benchmark of the euro area, rose 1.5 basis points (bps) to 2.50% and was set to post a weekly rise of 8 bps.

"Bond markets are still slowly repricing their expectations about future central banks moves," said...

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