Eurozone bond yields react mildly to renewed Middle East tensions

```htmlThe government bond issuance on Tuesday is expected to be limited, with only Austria and Germany conducting bond auctions. Even after Iran launched missiles and drones at the UAE and the US aimed to advance "Project Freedom" to clear the Strait of Hormuz, there has been little market volatility. Nevertheless, investors remain concerned as tensions in the Middle East escalate again. Oil prices have fallen slightly but remain at elevated levels. According to Tradeweb data, the latest yield on Germany’s 10-year government bonds is reported at 3.071%, up by just 0.1 basis points.```