European stocks set to extend losses as bond yields hit 3.64%

  • European equity markets were set to open lower Tuesday, extending the previous session’s losses.
  • 3.64% marked the Euro area 10-year government bond yield, its highest level since April 2011.
  • European Central Bank officials were expected to deliver a 25-basis-point hike at the September 9-10 meeting.

European equity markets were poised to open slightly lower on Tuesday, extending the previous session’s losses as rising global bond yields and elevated oil prices intensified concerns about persistent inflation and possible near-term interest-rate hikes. The Euro area 10-year government bond yield rose to around 3.64%, its highest level since April 2011. The European Central Bank is expected to raise rates by 25 basis points at its September 9-10 policy meeting. Investors are also due to assess Eurozone and Italian inflation, German retail sales, UK house prices and manufacturing PMI reports from across the region. No major European earnings releases were scheduled for Tuesday, while Euro Stoxx 50 and Stoxx 600 futures each fell about 0.1% in premarket trading.

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European stocks set to extend losses as bond yields hit 3.64% - CoinPost Terminal