(Bloomberg) -- Germany’s benchmark borrowing costs rose above 2.5% for the first time in more than a decade as traders lift bets on European Central Bank interest-rate hikes.

That follows a record 12-week streak of advances in the German 10-year yield. Money markets expect the ECB will hike its deposit rate by about 75 basis points to 1.5% next week and then take it up to 3.25% by next summer.

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