---
title: "Bund yields hit highest since October 2023 as oil prices jump"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278837091.md"
datetime: "2026-03-12T07:22:48.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278837091.md)
  - [en](https://longbridge.com/en/news/278837091.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278837091.md)
---

# Bund yields hit highest since October 2023 as oil prices jump

March 12 (Reuters) - Euro area benchmark Bund yields hit their highest level in almost 2-1⁄2 years on Thursday, as Middle East conflict fuelled inflation fears and expectations for interest rate hikes.

Oil prices jumped back briefly above $100 a barrel as Iran stepped up attacks on oil and transport facilities across the Middle East.

Germany’s 10-year government bond yield (DE10YT=RR) rose 3 basis points (bps) to 2.96%, its highest since October 2023.

Money markets were fully pricing a European Central Bank rate hike by July, with an 85% chance of second increase by December (EURESTECBM7X8=ICAP)

In late February, before the outbreak of the war, traders had attached a roughly 40% chance of a rate cut from the ECB before year-end.

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