Eurozone bonds join the global sell-off, with yields rising to multi-year highs

Eurozone government bond yields have joined the global fixed income asset sell-off. The yield on Germany's 10-year government bonds rose to 3.2478%, the highest level since May 2011; the yield on France's 10-year government bonds rose to 4.0954%, the highest level since November 2008.

The market is concerned that the ongoing war in Iran may lead countries to increase spending, affecting fiscal conditions.