德国总理默茨：德国养老金改革将在明年春季完成。

Schmid: Despite rising long-term yields, the Fed still needs to work on short-term interest rates.

U.S. Treasuries resumed a sell-off on Wednesday as a rebound in oil prices heightened market concern about reaccelerating inf and the prospect of further Fed tightening. The sell-off spread to Europe: UK 30-year gilt yields climbed back to 6%, French 30-year bond yields rose as much as 14bps, and the U.S. 30-year Treasury yield reached 5.72%. Mizuho International multi-asset strategist Evelyne Gomez-Liechti said: “We still think markets are caught between two forces: on one hand, absolute bond yields are already quite attractive; on the other, the logic behind rising oil prices has not gone away.”