Euro zone bond yields rose to a fresh five-month high on Thursday after a measure of U.S. inflation accelerated more than expected in the first quarter, reinforcing bets that the Federal Reserve would not cut interest rates before September. Germany's 10-year bond yield, the benchmark for the euro zone, rose 5 basis points to 2.63%, briefly touching its highest level since November. The U.S. 10-year yield surged to its highest since early November and was last 6 bps higher at 5.71%.
Homebuyers geared up for the spring despite elevated mortgage rates and prices, with pending transactions rising in March to the strongest pace in a year.
It follows the government's decision to scrap climate targets and its response to a gender services review.