Global Market: Eurozone bond selloff to weigh on growth, curb inflation, Lagarde says

What happened: ECB President Christine Lagarde said the eurozone bond selloff will weigh on growth and curb inflation, speaking in Bangkok. Why it matters: Lagarde said long-term rates rose notably since the ECB's last meeting, tightening financial conditions more than anticipated. Bundesbank President Joachim Nagel said further tightening could be necessary, and Olli Rehn said the ECB would monitor second-round energy effects. Key numbers: France, which carries a heavy debt burden, was among the countries most affected by the selloff.

ECB President Christine Lagarde said the eurozone bond selloff will weigh on growth and curb inflation, speaking in Bangkok.

Lagarde said long-term rates rose notably since the ECB's last meeting, tightening financial conditions more than anticipated. Bundesbank President Joachim Nagel said further tightening could be necessary, and Olli Rehn said the ECB would monitor second-round energy effects. Key numbers: France, which carries a heavy debt burden, was among the countries most affected by the selloff.