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Image of the European Central Bank, in Frankfurt am Main.
Yields on German debt and the rest of European countries have been rising for several weeks due to market fears that longer inflation will lead central banks to accelerate the withdrawal of stimuli.
This inflationary fear is driven by a new rise in the price of crude oil which, in the case of Brent, the benchmark in Europe, is trading today at new highs for seven years.
In fact, inflation in Germany reached 5.3% year-on-year in December, the highest level since June 1992, driven by rising energy prices and goods shortages, according to official data released on Wednesday. .
Energy prices rose an average of 10.4% in 2021, after falling 4.8% the previous year, while the supply of goods fell short of meeting demand during the economic recovery, the statistics office said. Among food products, the increase in prices was 3.2% and 2.1% in services.
In this context, US debt has also climbed in recent sessions, reaching 1.887% today.
In the rest of Europe, and following in the footsteps of the German bond, the yield on public debt is also rising.
In Spain, the ten-year bond reaches 0.685%; in Portugal, 0.607%; in Italy, 1.348%, and in Greece, 1.606%. (EFE).