Euro zone bond yields head for eighth weekly fall

LONDON, Dec 22 (Reuters) – The euro zone’s benchmark bond yield, the German 10-year, was on track for its eighth straight weekly fall on Friday, reflecting expectations of big interest rate cuts next year. Germany’s 10-year bond yield, which moves inversely to the price, was last up 1 basis point (bps) at 1.973%. It fell to 1.94% on Thursday, its lowest since March. Global yields have tumbled in November and December, with Germany’s 10-year on track for its biggest two-month fall since 2008. Sharp falls in U.S. and European inflation have allowed central bankers to call time on rate hikes, prompting investors to start thinking about when rates will fall and price in more than 150 bps of cuts from…