Euro-area government bond yields opened slightly lower on Monday but remain fragile as crude prices stay elevated and sovereign supply ramps up this week. Belgium auctions on Monday; Netherlands and Italy on Tuesday; Germany on Wednesday; Spain and France on Thursday. Elevated oil raises the odds of further ECB rate hikes. Deutsche Bank rates strategist Rainer Guntmann said the oil rebound, ECB President LAGARDE’s remarks, this week’s economic data and heavy issuance could amplify market unease.

Daiwa Securities strategist Kenta Tadaide said the Bank of Japan's October meeting will focus not just on whether to raise rates but on how members advocating a renewed inflation upswing will vote and on whether the economic minister attends. At September's meeting board members Asada and Sato opposed lifting the policy rate to 1.25%. Tadaide said it is unclear whether those votes reflect political intent, but the possibility is market‑relevant. He added the US-Japan rate gap remains the main driver of yen weakness, yet a self-reinforcing loop may form: further yen declines would strengthen the case for BOJ hikes and prompt sharper verbal warnings from Japanese and US officials.

美、布两油日内涨超2.00%，WTI原油现报93.18美元/桶，布伦特原油现报993.8美元/桶。