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2026-11-03 16:08:26
[Rising US Treasury yields drive up Eurozone bond yields; Belgian budget negotiations collapse drags down OLO] ⑴ Eurozone government bond yields rose in trading, driven by rising US Treasury yields and a slight rebound in oil prices from Monday's decline. ⑵ With no major economic data releases from the Eurozone that day and government bond issuances only involving Austria and Germany, investors' focus shifted to the US midterm elections. ⑶ The likelihood of the Democrats winning control of both houses of Congress has increased. Commerzbank analyst Christoph Rieg stated in a report that overall, Democratic control of Congress is positive for US Treasuries; predicting the election results is one thing, predicting how Trump and the market will react is another. ⑷ The yield on German 10-year government bonds rose 2.1 basis points to 3.316% during the session. ⑸ Belgian 10-year linear bonds (OLO) lagged behind, with the yield rising 3.2 basis points to 4.428% after the country's budget negotiations collapsed.
