Eurozone bond yields rose slightly, influenced by the downgrade of the US credit rating, with Germany hitting 2.59%

Eurozone government bond yields rose on Monday, following the trend in US Treasuries, amid Moody's downgrade of the US credit rating. German 10-year yields rose to 2.59% and US Treasury yields rose to 4.52%. Italian yields also rose and the spread over German yields was 97 basis points, signaling higher risk demand for Italian debt.