The 10-year bond yield fell below 5%

Eurozone bond prices are moving slightly upwards today, with the result that their yields have fallen.

In the domestic market the yield of the 10-year bond fell below the psychological limit of 5%.

The market was positively affected by an exclusive report by Reuters according to which the ECB – according to models by its economists – is not required to proceed with a “big increase” in interest rates in order to achieve its inflation target.

According to the publication, the total increase in the ECB interest rate is placed at 2.25%.

The ECB has already increased its interest rate from -0.5% to 0.75% within two months – at an unprecedented rate for its history – while it is preparing to proceed with another increase in its interest rate on October 27.

Conversely, on the other side of the Atlantic, inflation data released today, according to analysts, indicated that the Fed should proceed with bolder rate hikes.

In the secondary market, specifically in HDAT, transactions of 78 million euros were recorded today, of which 58 million euros related to purchase orders.

The yield of the 10-year bond fell to 4.89%, compared to 2.31% of the corresponding German bond, resulting in a spread of 2.58%. In the foreign exchange market, the euro strengthened against the dollar, as the European currency traded at $0.9786 in the early afternoon from the $0.9698 level at the market open.

The indicative euro/dollar exchange rate announced by the European Central Bank was 0.9739 dollars.

RES-EMP

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