US data broadly matched expectations; core CPI MoM was slightly softer. That allowed German Bunds to retrace earlier losses and return to roughly pre-release levels after an oil-price spike — triggered by Trump saying talks with Iran were taking too

2026-06-10

US data broadly matched expectations; core CPI MoM was slightly softer. That allowed German Bunds to retrace earlier losses and return to roughly pre-release levels after an oil-price spike — triggered by Trump saying talks with Iran were taking too long and Iran would "have to pay a price" — had pushed Bunds lower. High-beta markets remained under pressure: 10-year French bond futures fell more than 6 bps and 10-year Italian futures fell over 12 bps.