European Debt Markets Hold Steady Amid Falling Oil Prices

Deep News01:20

European government bonds remained largely flat during the day, with market participants awaiting updates on peace negotiations between the United States and Iran. Any progress in these talks could signal the reopening of the Strait of Hormuz.

Brent crude oil prices continue to trade below the $80 per barrel mark. Traders now anticipate the Bank of England will raise interest rates by a total of 24 basis points before the end of the year.

In market movements, the yield on the 10-year German Bund was unchanged at 3.12%, while the 10-year German Bund futures contract rose 18 ticks to 125.28. The yield on Italy's 10-year BTP rose 2 basis points to 3.88%, with the spread over German Bunds widening by 1 basis point to 77 basis points. The yield on France's 10-year OAT increased by 2 basis points to 3.90%. Meanwhile, the yield on the 10-year UK gilt edged down 1 basis point to 4.89%.

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