While the good U.S. employment numbers released on Friday continued to put pressure on global debt markets, eurozone bond yields rose again on Monday to reach new multi-month highs.

The 10-year German bond yield, the eurozone benchmark, climbed to 2.6% at the start of trading, its highest level since July. It rose by 3 basis points (bps) to 2.594%. Italy's 10-year yield rose 4 bps to 3.812%, after reaching its highest level since November at 3.827% at the start of trading. Returns change in the opposite direction to prices. The gap between Italian and German yields stood at 121 bps, the highest since early December. The yield on two-year German bonds, which is more sensitive to European Central Bank rate expectations, rose to 2.307%, the highest level since November