German commercial banks: Eurozone bond yields follow the rise in US Treasury yields, with some focus on Belgium.

Most eurozone government bond yields have risen, following the trend of US Treasury yields, and Belgian government bonds have attracted attention due to budget negotiations dragging on. Hauke Siemssen, from the research department of Deutsche Bank, stated in a report, "Belgium is in focus, as next year's budget negotiations are becoming increasingly difficult, with Prime Minister Bart De Wever setting a new Christmas deadline for completion of this process." The rate strategist noted that despite efforts to consolidate the budget, a deficit of around 5% still seems possible by 2026. Deutsche Bank advises reducing holdings of Belgian government bonds in their outlook for eurozone government bonds. According to Tradeweb data, the yield on 10-year German bunds rose by 1.6 basis points to 2.674%, while the yield on 10-year Belgian OLOs fell by 0.7 basis points to 3.194%.