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Euro zone bond yields fall, stocks rally on Yellen speech

Reuters  |  LONDON 

LONDON (Reuters) - Government bond yields in the euro area fell and stock markets rallied on Wednesday after remarks from U.S. Federal Reserve Chair Janet Yellen dampened growing expectations of more than one interest rate hike for the rest of the year.In a prepared testimony to be delivered to Congress later on Wednesday, Yellen said the Fed would not need to raise rates "all that much further" to reach current low estimates of the neutral fed funds rate.The comments bought a wave of relief across world markets, which have been rattled in the past two weeks by comments from major central ...

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First Published: Wed, July 12 2017. 20:22 IST