LONDON, April 30 ― Euro zone government bond yields were steady today ahead of the release of bloc-wide inflation data following slightly hotter-than-expected French inflation and a day after other national data suggested core inflation is continuing to slow.
The German 10-year bond yield, the benchmark for the euro zone bloc, was little changed at 2.53 per cent, down from a five-month high of 2.65 per cent last week.
European inflation is in focus today. French numbers showed consumer prices rose 2.4 per cent year on year in April, above a 2.2 per cent rise expected by analysts polled by Reuters.
The French 10-year yield was little changed at 3.03 per cent, rising about 1 basis point after the data.
Euro zone wide figures are due at 0900 GMT. German inflation rose slightly in April, Monday data showed, but core inflation, which excludes volatile food and energy prices, eased to 3.0 per cent in April from 3.3 per cent in March.
Analysts said the inflation prints should not disrupt market expectations that the European Central Bank will cut rates at its June meeting.
Italy's 10-year yield was higher by 0.8 basis point at 3.83 per cent, and the gap between Italian and German bunds widened 1.2 basis points to 129 bps. ― Reuters
