November 9, 2017 / 12:10 PM / in a month

Euro zone government bond yields jump, euro rallies

LONDON, Nov 9 (Reuters) - Euro zone government bond yields jumped on Thursday, kicking recent sharp falls into reverse, while the euro climbed to a six-day high.

Germany’s benchmark 10-year bond yield was up 5 basis points at 0.37 percent, well above a two-month low hit in the previous session of around 0.31 percent.

Across the single currency bloc, bond yields were up 5-8 bps on the day having fallen sharply in the past two weeks thanks to the European Central Bank’s decision last month to extend bond buying stimulus well into 2018.

The euro climbed 0.4 percent to a six-day high of $1.1645 , having earlier traded flat and was set for its biggest single day rise in two weeks.

Stock markets were broadly weaker.

“There is a rather broad-based sell off in markets and we’re wondering what is driving this,” said DZ Bank rates strategist Christian Lenk. (Reporting by London Markets Team; Editing by Saikat Chatterjee)

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