Stocks regain some ground, bonds steady after rate angst sell-off

LONDON, May 30 - European stocks edged higher on Thursday as bonds regained some ground after a sell-off the day before on bets that global interest rates would stay high due to sticky inflation.

Germany's DAX , opens new tab, France's CAC , opens new tab and Britain's FTSE 100 , opens new tab eked out gains of 0.1%-0.4%.Germany's 10-year bund yield , which earlier touched a six-month high at 2.687%, was little changed at 2.685%. Bond yields move inversely to prices. Markets are pricing in around 60 basis points of easing from the ECB this year , implying two quarter-point rate cuts and around a 40% chance of a third.

"From this perspective, PCE not ticking higher could be a welcome surprise. But should it heat up further from sticky levels, appetite for risk will be taken out the back for a good kicking." In the currency market, the dollar softened, having earlier knocked the euro to an over two-week low of $1.07885.

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