ECB getting uncomfortable with rise in yields

The Globe and Mail
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POOL/The Associated Press
The European Central Bank is “closely monitoring” the recent rise in government bond yields, ECB President Christine Lagarde said on Monday, the clearest sign yet that policymakers are becoming uncomfortable with the recent surge in borrowing costs.
Euro zone bond yields have risen sharply since the start of the year, mirroring a similar move in U.S. Treasuries, but the ECB has so far played down these moves, arguing that nominal yields are not necessarily an appropriate benchmark.

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