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Germany's 10-year yield fell 4 basis points to 3.6% after hitting a 17-year high on Monday. France's 10-year yield stayed near an 18-year high and the spread over Germany widened to 117 bps.
Germany's 10-year yield fell 2 basis points to 3.624% after hitting a 17-year high on Monday. Money markets still price almost four more quarter-point ECB hikes.
Reuters trading day column says benchmark 10-year yields in France, Germany, the UK and the US rose to their highest since the mid-late 2000s. It also notes stocks fell, oil rose and gold hit a seven-week low.
ECB's Lagarde: Markets do what they have to do.