1035 GMT - Markets have gone too far in pricing interest-rate rises by the European Central Bank, Generali Investments' Florian Spaete says in a note. Eurozone money markets currently fully price in a 25 basis-point rate hike this week and two further increases through 2027, LSEG data show. Beyond September, Generali Investments expects only one additional hike in the fourth quarter, however. It considers that second-round inflation effects or accelerating wage pressure remain limited. Still, this doesn't mean Bund yields have scope to fall meaningfully near term as any correction in rate expectations is likely to be offset by higher risk premia, the senior bond strategist says.