Global Market: Eurozone bond yields climb as Middle East tensions rekindle inflation concerns

Eurozone bond yields climbed as renewed US-Iran missile and drone attacks raised inflation concerns, reversing earlier optimism from the interim deal on the Strait of Hormuz. Germany's benchmark 10-year yield rose 2.3 basis points to 3.0568%, while the two-year yield gained 3.3 basis points to 2.6817%. Brent crude futures surged 3.8 percent to $78.94 a barrel, and money markets priced in around 38 basis points of additional ECB tightening by year-end. Elevated volatility is expected across global bond markets amid geopolitical uncertainty and upcoming US inflation data.