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2026-05-28 17:47:41
[US-Iran Attacks Damage Ceasefire Prospects, Oil Prices Jump 2.5%, Eurozone Yields Rise Across the Board] ⑴ Eurozone government bond yields rose on Thursday as attacks between the US and Iran jeopardized the ceasefire agreement and pushed oil prices up by approximately 2.5%. The yield on German 10-year bonds rose 2 basis points to 3.005%, while the yield on German 2-year bonds, more sensitive to ECB interest rate expectations, rose 4 basis points to 2.617%. ⑵ Iran's Revolutionary Guard said on Thursday that it had struck a US airbase shortly after a US attack on an Iranian target near the Strait of Hormuz. Brent crude rose 2.5% to $96.65 a barrel. ⑶ Commerzbank interest rate strategists said the market remained wary of headlines from Iran, as last night's renewed attacks reduced the likelihood of a swift agreement, and negative news stalled the market, hindering a sustained easing of pressure. (4) Money markets have increased bets on interest rate hikes, with current expectations that the European Central Bank will raise rates by nearly 65 basis points this year, up from less than 60 basis points on Wednesday evening.
