LONDON, Jan 10 (Reuters) - Germany’s 10-year bond yield hit its highest level since the October European Central Bank meeting, when policymakers first announced the extension of its bond-buying scheme, with one trader citing heavy supply as main cause behind today’s move.
With 10-year U.S. Treasury yields reaching 2.57 percent overnight for the first time since March last year, most euro zone 10-year govt bond yields were 1-2 basis points higher at the open on Wednesday.
The yield on Germany’s 10-year government bond , the benchmark for the bloc, was 2 bps higher at 0.48 percent.
German Bund futures dropped as much as 30 ticks at the open, briefly touching the 161.00 mark before rising once again to 161.08. (Reporting by Abhinav Ramnarayan, Editing by Jamie McGeever)