Energy price declines ease inflation concerns, euro zone bond yields fall from multi-year highs
智通财经2026/09/03 09:41Show original
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- Eurozone government bonds ended a six-day losing streak on Thursday, with yields retreating from multi-year highs. Softer energy prices eased inflation concerns, and market expectations for an ECB rate hike narrowed slightly.
- The yield on Germany's 10-year government bonds fell to 3.36%, slightly below Wednesday's 15-year high of 3.3951%. Brent crude oil pulled back from a six-week high, and natural gas prices also declined from their highest level since January 2023.
- US President Trump stated that the latest US military action against Iran would not last long, providing some support to market sentiment.
- However, yields remain elevated as markets continue to worry about energy-driven inflation, rising interest rates, and fiscal sustainability in countries such as France and the UK.
- Money markets are still fully pricing in a 25 basis point rate hike by the ECB next week to 2.5%. At the same time, market pricing indicates a nearly 100% probability that the deposit rate will reach 3% by June 2027, implying two more hikes before mid-2027.
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