Eurozone government bond yields climbed in early trading, tracking higher US Treasury yields and a modest rebound in oil after Monday’s declines. With no major eurozone data and issuance limited to Austria and Germany, market attention shifted to the US midterm elections as the probability of Democrats winning both chambers rose. Analyst Christoph Rieg said Democratic control would be supportive for US Treasuries, but how markets would react to Trump is a separate question. Germany’s 10-year yie

Eurozone government bond yields climbed in early trading, tracking higher US Treasury yields and a modest rebound in oil after Monday’s declines. With no major eurozone data and issuance limited to Austria and Germany, market attention shifted to the US midterm elections as the probability of Democrats winning both chambers rose. Analyst Christoph Rieg said Democratic control would be supportive for US Treasuries, but how markets would react to Trump is a separate question. Germany’s 10-year yield rose 2.1bps to 3.316%; Belgium’s 10-year OLO lagged, up 3.2bps to 4.428% after budget talks collapsed.