(Bloomberg) -- European government bonds dropped for the first day in three after a survey showed business confidence in Germany climbed for a second month in April, adding to expectations of higher interest rates in the euro region.
Benchmark 10-year yields rose to near their highest in more than 2 1/2 years on evidence Europe's largest economy is expanding. Germany's Ifo institute said its gauge of business sentiment rose to 108.6 from 107.7 in March. Economists surveyed by Bloomberg News had expected a gain to 107.9.
Read more at Bloomberg Bonds News
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