Picture: KAI PFAFFENBACH/REUTERS
ECB chief Christine Lagarde, addressing the European parliament, calmed some rate hike jitters by saying there were no signs that measurable monetary policy tightening would be required. Yields on Italian 5-year bonds rose 4 bps, while the 2-year was flat after both rose as much as around 15 bps during the session.
Money markets are currently pricing in an 89% chance of a 10 bps rate hike in June and a 95% chance of a rate hike of 50 basis points by December 2022.
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