German 10-year yields climbed to about 3.53%, a level last seen in 2009, after the ECB raised its deposit rate to 2.50% and Governing Council members floated further tightening amid a worsening energy-driven inflation outlook.
Christine Lagarde kept last week’s hawkish ECB message alive, telling Ouest-France the Middle East energy shock is longer-lasting and will keep inflation well above 2%. Source
