European Stocks Slump As Bond Markets Lead The Way

Germany's benchmark borrowing costs rose to the highest level in more than 18 months Thursday as the region's economic prospects improve and investors begin to reset assumptions for rate increases from the European Central Bank.

Benchmark 10-year German government bonds, known as bunds, traded at 0.5% Thursday, the highest level since January 2016, extending a rise of more than 25 basis points since ECB President Mario Draghi hinted last week that the Bank could begin slowing or reversing some of its accommodative monetary policies as the region's recovery accelerates.

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