AMSTERDAM, Nov 26 (Reuters) - Euro zone bond yields rose
early on Thursday, with investors expected to focus on the
European Central Bank's October meeting minutes, in an otherwise
quiet session with U.S. markets closed for Thanksgiving.
With European stock markets up in early trade, safe-haven
bond yields edged higher, with Germany's 10-year yield up about
a basis point to -0.57%.
Southern European bond yields were also up. Italy's 10-year
yield rose 1 basis point to 0.58%, after touching a record low
0.554% a day earlier.
Portugal's 10-year yield, which also touched a record low on
Wednesday and is near 0% for the first time, was unchanged at
With U.S. markets off for Thanksgiving holiday and no major
data releases due on Thursday, European investors will focus on
European Central Bank minutes due at 1230 GMT for any clues
about action it will take at its next meeting, in December.
The ECB had already committed at the October meeting to
providing more stimulus in December.
Policymakers led by Christine Lagarde said they will mainly
look at more pandemic emergency bond purchases and cheap loans
for banks when putting together the December stimulus package.
Those expectations have underpinned euro zone government
bonds in recent weeks, which recovered from a sell-off on
optimism around the coronavirus vaccines, and moves have been
Given the commitment and amount of detail given by
policymakers in recent weeks, analysts don't expect the minutes
to have much effect on the market.
"Against that background, the minutes might be thin on
actual news," ING analysts told clients, adding that a speech by
board member and chief economist Philip Lane at 12:00 GMT may be
(Reporting by Yoruk Bahceli, editing by Larry King)