The rise in U.S. Treasury yields drives European bonds higher; Belgium's budget negotiations collapse, weighing on OLO.

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智通财经2026/11/03 08:36

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Driven by the rise in US Treasury yields and a slight rebound in oil prices from Monday's decline, eurozone government bond yields climbed during trading.
As no significant economic data was released in the eurozone that day and government bond issuance was limited to Austria and Germany, investors' attention shifted to the US midterm elections.
The likelihood of the Democratic Party simultaneously winning control of both chambers of Congress has increased. Commerzbank analyst Christoph Rieger stated in a report that overall, Democratic control of Congress is positive for US Treasuries; however, predicting the election outcome is one thing, while forecasting how Trump and the market will react is another.
Germany’s 10-year government bond yield rose 2.1 basis points during the session to 3.316%.
Belgium’s 10-year linear bond (OLO) underperformed, with the yield up 3.2 basis points to 4.428%, following a breakdown in the country’s budget negotiations.

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The rise in U.S. Treasury yields drives European bonds higher; Belgium's budget negotiations collapse, weighing on OLO.

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