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Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Eurozone periphery bonds traded lower Wednesday after media report mentioned that the European Central Bank might gradually taper its asset purchases under its quantitative easing program sparked broad selling.
The French 10-year bond yields, which moves inversely to its price, rose 7-1/2 basis points to 0.233 percent, Irish 10-year bonds yield jumped 3 basis points to 0.480 percent, Italian equivalent climbed 9 basis points to 1.347 percent, Netherlands 10-year bonds yield inched 7 basis points higher to 0.103 percent, Portuguese equivalents bounced 11 basis points to 3.444 percent and the Spanish 10-year bonds yield up 8 basis points to 1.013 percent by 10:20 GMT.
The ECB will probably taper its bond purchases when the time comes, according to unnamed central bank officials cited by Bloomberg. The report doesn't say when this may start happening, but refers to its being done in increments of 10 billion Euros per month. The decision will depend on the economic outlook, as well as how the ECB addresses the scarcity of assets to buy.
The idea of eventual tapering is natural, but this report may raise speculation about whether the current QE pace of 80 billion Euros per year (since last March) may be reduced as soon March 2017, which would be earlier than expected.
In addition, the Eurozone bonds have been closely following developments in oil markets because of their impact on inflation expectations, which are well below the European Central Bank's target. Crude oil prices bounced above $50 a barrel after a report that U.S. fuel inventories may have fallen for a fifth straight week. The International benchmark Brent futures rose 1.63 percent to $51.72 and West Texas Intermediate (WTI) also jumped 1.62 percent to $49.48 at 09:20 GMT.
Meanwhile, the pan-European STOXX 600 index was down 0.91 percent and the euro-area blue-chip gauge the STOXX 50 dipped 0.79 percent, the PSI20 Index tumbled 1.21 percent, the DAX traded 0.66 percent lower and the CAC-40 fell 0.68 percent by 10:20 GMT.
