Euro rallies and bund yields jump after half-point ECB rate hike

The euro rallied after the European Central Bank opted for a half-point rate hike, which was the upper end of analyst expectations. The euro
EURUSD,
-0.01%
traded at $1.0248 from $1.0184 on Wednesday. The yield on the 2-year German bund
TMBMKDE-02Y,
0.618%
shot up 15 basis points to 0.76% from 0.61% on Wednesday. European stocks
SX5E,
-0.33%
wobbled, with the Euro Stoxx 50 up 0.2% shortly after the decision.