Global News

[ad_1] LONDON: Italy 's benchmark bond yield hit its lowest level in 15 months on Thursday as the bond market rally continued despite central bank officials' best attempts to rein in the exuberance. The Italian 10-year yield , which moves inversely to the price, fell 4 basis points (bps) to 3.566% on Thursday, the lowest since late August 2022. Meanwhile, Germany's 10-year bond yield, the benchmark for the euro zone as a whole, was last down 3 bps at 1.947%, its lowest in nine months. Yields have tumbled in November and December as inflation in the US and Europe has fallen sharply and central bankers have said interest rate hikes are almost certainly over. "It just seems like no one's been willing to stand in the way of this (rally) and you do wonder is that partly because it's year-end and no one really wants to get cut out," said Lyn Graham-Taylor, rates strategist at Rabobank. "It's always difficult at this time of year reading too mu