The ECB is expected to raise rates sooner than forecasts

Eurozone bonds declined as market participants raised expectations that the ECB would raise interest rates earlier than expected.
German bonds led the cut, as the euro rose, after rising expectations that the ECB would raise rates well before December of next year.
Currently, at futures trading levels, the ECB is expected to raise interest rates by 82% by September of the following year. By comparison, until recently the expectations were only 70%.
Interest rates on five-year German bonds rose three basis points to a minus 0.26%, while those on 10-year bonds also added 3 basis points to 0.33%.