Germany's two-year bond yield fell after publication of the ECB consumer expectations survey, sliding to a seven-week low of 2.508%, down 3 bps on the day.

On the 25th, Italian Foreign Minister Tajani told his Iranian counterpart by phone he firmly rejects the NATO secretary-general’s recent claim that US forces used Italian military bases in operations against Iran. Tajani said Italian bases have never been used for attacks on Iran and will not be; no US warplanes departed Italian territory to bomb Iran and Rome never authorised such operations. The Iranian foreign minister thanked Italy for the clarification and said a clear, formal denial was necessary.

Spot gold climbed $15 intraday to break $4,060/oz, up 0.83% on the day.