Yields of German Bunds spike on Draghi

Yields of the key 10-year German Bunds have spiked to levels last seen in July 2017 around 0.625% following Draghi’s press conference.

In fact, President M.Draghi disappointed those who were expecting his tone to lean towards the dovish side today, particularly in light of the recent and sharp appreciation of the exchange rate.

In the shorter end of the curve, yields of the 2-year German benchmark rose to the vicinity of -0.555%, or multi-day tops.

Along with the sharp rise in German yields, EUR/USD has quickly surpassed the 1.2500 limestone, recording at the same time fresh 2018 tops.