European government bonds have risen as global oil prices fell, with the pause in Middle East attacks continuing.
Germany's 2-year yield dropped 4 basis points to 2.79%, retreating further from last week's high of 2.91%, which was the first time since July 2024 that it had reached that level. UK gilts also moved higher, with the 2-year yield falling 4 basis points to 4.37%.
The decline in European bond yields outpaced that of US Treasuries, causing the spread between 10-year US and German bonds to widen to 152 basis points, the widest in nearly three weeks.
In the market, Germany's 10-year yield fell 5 basis points to 3.13%, while German bond futures rose 55 ticks to 125. Italy's 10-year yield dropped 6 basis points to 3.94%, and the spread between Italian and German bonds narrowed by 2 basis points to 81. France's 10-year yield fell 5 basis points to 3.92%, and the 10-year UK gilt yield declined 5 basis points to 4.99%.
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European Bonds Rally as Oil Prices Decline Amid Middle East Truce
Deep News01:20
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