German 10-year yields hit the highest since January 2016
The ECB minutes talked about removing the easing bias and that was all it took to send German 10-year yields to the best levels in a year-and-a-half. Bund yields had already been higher on the day and had already broken above the March high but the latest uptick helped to solidify the breakout.
On the day, German 10s are up 7 bps while US 10s are up 4 bps to 2.36%.