German 10-Year Yield Near 3.13% Peak

German 10‑year yield fell 5 bps to 3.04% but remains near 3.133% peak, highest since mid‑2011.
Rising energy prices and oil‑price surge revive stagflation fears, prompting traders to price ~90% chance of ECB rate hike on June 11.
Market expects three ECB rate increases by year‑end, up from earlier view of unchanged deposit rate throughout 2026.
US‑China leaders discussed keeping Strait of Hormuz open, but tensions keep the passage effectively closed, adding geopolitical risk to energy markets.