Euro zone government bond yields rose on Thursday as German data shifted the market focus to surging inflation, while gilt investors resumed selling after the Bank of England (BoE) stepped in to quell a storm the day before.
Euro area yields had plunged on Wednesday, tracking moves in UK gilts as the BoE announced the immediate launch of an emergency bond-buying programme to prevent the market turmoil from spreading.
German inflation likely grew significantly in September based on initial data from its most populous state, which saw the biggest jump since the early 1950s, according to its statistics office. [nL8N3101ZE] "If mirrored by data from other federal states, which are due to be published in the morning, consumer prices may rise by nearly 10% year-on-year," UniCredit analysts said in a note.
Analysts polled by Reuters expect EU-harmonised consumer prices data, which are due on Friday, to have increased by 10% in September.
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