- 10-year French bond yields up 7 bps to 3.145% - highest since February 2014
- 10-year Spanish bond yields up 7 bps to 3.700% - highest since April 2012
- 10-year German bond yields up 8 bps to 2.66% - highest since July 2011
And for the first time in this tightening cycle, money markets are pricing in a 4% terminal rate for the ECB. The data is also weighing on equities and underpinning the dollar as we get into European trading today. The euro is sort of balanced out by that, with EUR/USD still little changed around 1.0600.
Here's a look at the bond yield charts at the moment:
