Euro zone yields edge lower, eyes on US Federal Reserve

Euro zone bond yields ticked lower on Wednesday as traders eyed events beyond the currency bloc, digesting slightly lower-than-expected British inflation data and awaiting the conclusion of the Federal Reserve meeting later in the day. Germany's 10-year bond yield, the benchmark for the euro zone, was last down 3 basis points at 2.42%. Yields have been rising for the past week as U.S. economic data remained strong causing investors to rein in bets on Federal Reserve rate cuts, a continuation of the broad trajectory for much of 2024.