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Austrian government bonds mixed in late trading | 03/22/22

Austrian government bond prices were mixed in late trading on Tuesday. The yield on the benchmark Austrian 10-year bond rose 5 basis points to 0.88 per cent. The yield spread on similar German bonds was 37 basis points.

Interest rates are currently being boosted by high inflation, which is likely to continue rising. In light of the development, US Federal Reserve Chairman Jerome Powell said Monday evening that the central bank may also raise its key interest rate by more than 0.25 percentage points at its rate meeting. Other high-ranking central bankers from the US had already made similar statements. The Federal Reserve kicked off a shift in interest rates last week by raising its key rate for the first time since 2018 and promising a series of additional increases.

On Tuesday, James Bullard, head of the regional central bank from St. Louis, again called for a rapid tightening of monetary policy. He recommends raising interest rates quickly to an anti-inflationary level. Pollard is seen as a representative of a particularly tight monetary policy. A few days ago he said he wanted to raise the US interest rate to more than three per cent by the end of the year.

Selected Austrian benchmark bond yields:

Current Range Previous day change difference (in basis points) 2 years -0.43 -0.41 -0.02 -19 5 years 0.36 0.28 +0.08 12 10 years 0.88 0.83 +0.05 37 30 years 1.19 1.17 +0.02 52

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