The bond market stays more bid ahead of the US CPI data today

Here’s a look at the state of play as European trading begins: bond yields fell by 3.4 percentage points to 3.511 percent, and the German bund’s price fell by 7.1 percentage points to 2.114 percent. What’s happening here? Is this a sign that regardless of the data that comes out later today, we have reached a peak in terms of rates pricing for key central banks? Why has the Italian bond yield fallen by 9.2 percentage points to 3.952 percent? It’s puzzling, especially in Europe, where both German and Italian 10-year yields are at their lowest in a month.