German bond yields hit one-month high as rate-cut optimism wanes

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Germany's 10-year bond yield, the benchmark for the euro zone, rose to a one-month high on Wednesday after central bankers pushed back against market expectations of rapid interest rate cuts this year. It was last up 4 basis points (bps) at 2.253%. "Regarding today's market moves, I think it's general central bank talk, pushing back expectations on near-term rate cuts, and also UK inflation figures," said Jussi Hiljanen, head of European rates strategy at lender SEB.