Euro zone yields dip, ECB says could reduce bonds buys

euro zone yields dip ecb says could reduce bonds buys

Sumary of Euro zone yields dip, ECB says could reduce bonds buys:

  • Article content AMSTERDAM/LONDON — Euro zone bond yields dipped on Thursday amid uncertainty over the bloc COVID-19 vaccination program, while minutes of the European Central Bank March meeting showed policymakers were ready to reduce bond purchases if conditions allowed..
  • job data while dovish Federal Reserve minutes released on Wednesday showed the central bank was in no rush to raise interest rates..
  • In late afternoon trading, safe-haven euro zone bond yields ticked lower, with Germany 10-year yield, the benchmark for the bloc, losing around 1.2 basis point at -0.33%..
  • Italian 10-year bond yields were down 3 basis points at 0.67%, keeping the closely watched risk premium with Bunds at about 100 basis points but below the four-week high it touched on Wednesday..
  • Minutes of the ECB March meeting published on Thursday showed policymakers debated a smaller increase in bond purchases and agreed to front-load the buying this quarter on condition it could be cut later if conditions allowed..
  • Monthly bond buys under the ECB 1.85 trillion-euro Pandemic Emergency Purchase Programme (PEPP) jumped by over a fifth last month, enough to stabilize nominal bond yields and push inflation-adjusted yields back to their early-year lows..
  • Sources told Reuters at the time that hawkish policymakers were skeptical about increasing the purchases and some saw rising nominal bond yields as a potentially welcome sign of economic recovery..
  • Lagarde comments came as data showed euro zone producer prices rose at an accelerated year-on-year pace in February as the cost of energy and intermediate goods went up, underlining expectations of faster consumer price growth in the coming months…

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