Reports from local media indicate that Iran will suspend communications with the United States in protest against Israel. This development has driven oil prices to their intraday highs and extended the bearish flattening trend in the yield curves for both German and UK government bonds.
The yield on the German 10-year government bond increased by 6 basis points to 2.99%. Similarly, the yield on the equivalent UK bond rose by 4 basis points, reaching 4.86%.
Brent crude oil jumped by 5.4%.
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