LONDON: Euro zone bond yields were little changed in thin trading on Thursday, just down from their highest level in a month as investors try to gauge the outlook for interest rates next year.

Germany’s 10-year bond yield, the benchmark for the euro zone bloc, rose 0.5 basis points (bps) to 2.37%.

It hit a six-week high of 2.405% on Friday before dipping on Monday.

Yields move inversely to prices.

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Italy’s 10-year yield was higher by 1.6 bps at 3.54%, and the gap between Italian and German yields stood at 115 bps.

Germany’s two-year bond yield, which is more sensitive to European Central Bank interest rate expectations, was little changed at 2.08%, not far from last Friday’s five-week high of 2.119%.