Inflation in two of the euro zone's biggest economies rose unexpectedly this month, data showed on Tuesday, pushing up European Central Bank rate hike expectations and challenging the narrative that a rapid easing in price growth is now underway.
Germany's 10-year bond yield, the benchmark for the euro zone, jumped to its highest level since 2011 at 2.66% as traders ramped up bets that ECB rates will peak around 4% at year-end.
Some investors even think there is a risk of the ECB raising rates by more than 50 basis points in March, despite its explicit guidance for the move. In France, inflation still has some way to rise after its figures were among the lowest in the 20-nation euro area for the past year.
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