LONDON- Euro zone bond yields edged up in early trade, largely tracking US debt, as traders mulled the possible economic impact of US President Donald Trump’s latest tariffs ahead of semi-annual testimony from Federal Reserve Chair Jerome Powell.
Germany’s 10-year yield, the benchmark for the euro zone, was last up 2 basis points at 2.379 percent, staying range bound over the last week.
Later in the day, Powell will deliver his semiannual testimony on monetary policy before the Senate Banking, Housing and Urban Affairs Committee. With so much focus on the outlook for US interest rates, traders will be looking out for any hint on how flexible the Fed might be on policy going forward.
Closer to home, investors will be scouring remarks from European Central Bank board member Isabel Schnabel, who takes part in a panel discussion at an event in Germany later.
