Eurozone bond yields are rising in line with US Treasury yields, as the market awaits PMI data.

The yield on Eurozone government bonds has risen, following the trend of US Treasury yields, while oil prices have risen amid the deadlock in US-Iran peace talks and the reopening of the Strait of Hormuz. Bond investors are still concerned about the inflation impact of the East-West war. However, the upcoming release of preliminary Purchasing Managers' Index data may alert investors to growth risks. Data from Tradeweb shows that the yield on 10-year German government bonds rose by 4 basis points to 3.037%, the yield on 10-year French government bonds rose by 5 basis points to 3.695%, and the yield on 10-year Italian government bonds rose by 5.4 basis points to 3.825%.