Global government bond prices recovered as yields near multi-decade highs, despite lingering energy-price risks. UK 10-year gilt yield fell 5bp to 5.18% after earlier touching its highest since August 2007; Germany 10-year bund yield slipped 2bp and the US 10-year Treasury yield fell 1bp to 4.77%. Traders monitored remarks from Trump on Wednesday, who hinted the latest US-Iran round would be short-lived. Oil's earlier spike had stoked inflation concerns and rate-hike bets that pushed global yiel

Global government bond prices recovered as yields near multi-decade highs, despite lingering energy-price risks. UK 10-year gilt yield fell 5bp to 5.18% after earlier touching its highest since August 2007; Germany 10-year bund yield slipped 2bp and the US 10-year Treasury yield fell 1bp to 4.77%. Traders monitored remarks from Trump on Wednesday, who hinted the latest US-Iran round would be short-lived. Oil's earlier spike had stoked inflation concerns and rate-hike bets that pushed global yields higher; oil has since retreated. Kevin Zhao, head of global sovereign fixed income and FX at UBS Asset Management, said Germany's 30-year bund yield rose to 3.84% this week, its highest this year, and that he has been buying the long end of the German curve. "That yield level is attractive," he said. "In political crisis or high-tension situations, German bunds can act as a good safe haven."