Euro zone bond yields edge up ahead of ECB meeting, Powell testimony

Euro area government bond yields rose on Wednesday, after falling the day before, as they await the European Central Bank (ECB) policy meeting, the testimony from Federal Reserve Chair Jerome Powell and crucial U.S. data later this week. Analysts recently argued the ECB does not need to push back against the pricing of the policy path as markets have scaled back significantly bets on rate cuts in the last few weeks. Investors will closely watch Powell's testimony on Wednesday and Thursday for clues about the next moves from the U.S. central bank.