Euro area benchmark Bund yield edges down after ECB remarks

The euro zone benchmark Bund yield edged lower on Tuesday after rising the day before as European Central Bank policymaker Francois Villeroy de Galhau said the ECB's next move would be an interest rate cut in 2024, barring surprises. Villeroy de Galhau argued that the ECB could not declare victory over inflation without commenting on the timing of a possible monetary easing. Money markets stood their ground, still discounting around 150 bps of ECB rate cuts by year-end, while fully pricing a first move in April.