<div id="readability-page-1">Headlines:<ul><li>US reportedly to temporarily waive Iran sanctions in new draft proposal</li><li>Iran's ForMin Spokesperson says process of talks through Pakistani mediation is ongoing</li><li>IEA chief warns that commercial oil inventories are depleting rapidly</li><li>Gold remains under pressure amid worries of Fed rate hikes, prolonged US-Iran stalemate</li><li>Surging bond yields are a major pain point for equities at the moment</li><li>Japan government likely to issue fresh debt to fund extra budget - report</li><li>BOE policymaker Breeden says no need to rush in taking next policy step</li><li>BoE's Greene: We should not be looking through negative supply shocks</li></ul>Markets:<ul><li>WTI crude down 0.2% to $100.80 on the day</li><li>S&amp;P 500 futures down 0.2%, DAX up 0.7%, CAC 40 down 0.4%</li><li>US 10-year yields at 4.58%, France 10-year yields at 3.95%, Germany 10-year yields at 3.16%</li><li>US dollar slightly lower across the board after trading little changed early on</li><li>Gold up 0.3% to $4,553</li><li>Bitcoin down 1.2% to $77,290</li></ul>It was a quiet session for the most part as the US-Iran conflict drags on for another day/week. It now 80 days since the war started, in case anyone is counting.For the most part, risk trades were more cautious during the session as we saw a more defensive mood in Asia trading. That persisted until moments ago, where we got a report from Iranian media that the US is set to propose a temporary waiver to oil sanctions as both sides look to negotiate further.It's a bit of a concession on the part of Washington but we will have to wait to see how credible the headlines are later today. Oil prices were keeping higher for most of the session, with WTI crude (July contract) seen at $102.30 before falling off to $100.80 now after the headlines.For now at least, it is helping to alleviate some pressure off risk trades. S&amp;P 500 futures were down by as much as 0.6% earlier on but briefly pared losses on the news before holding down by 0.2% currently.In Europe, it's a mixed mood with the DAX seen up 0.7% while the CAC 40 is down 0.4% on the day. This comes as the pressure continues in the bond market after the selloff on Friday. France's fiscal worries are starting to rear their ugly head again with 10-year yields there hitting near 4% at the end of last week.While the rout in the bond market is easing off a little, we are still seeing yields keep at the highs. And that continues to apply pressure to the overall risk mood in markets so far today. 10-year yields in the US are at 4.59% with 30-year yields at 5.12% currently - both keeping at one-year highs.In the major currencies space, the dollar is down slightly at the balance after a steadier start to the week. EUR/USD is up 0.2% to 1.1640 while USD/JPY is flat at 158.80 on the day. Meanwhile, AUD/USD is up 0.2% to 0.7160 with the mood helped by the headlines involving the temporary sanctions waiver above.As for precious metals, we are seeing gold and silver recover off early lows in Asia with the former up 0.3% to $4,553 and the latter up 0.5% to $76.30 on the day.</div>

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European markets showed a cautious mood as the US reportedly plans to temporarily waive Iran sanctions, potentially easing tensions. WTI crude oil fell to $100.80, while S&P 500 futures dipped 0.2%. Bond yields remain high, with US 10-year yields at 4.58%. Gold rose 0.3% to $4,553, but concerns over Fed rate hikes persist. The DAX increased by 0.7%, contrasting with a 0.4% drop in the CAC 40. Overall, market sentiment remains defensive amid ongoing geopolitical tensions.

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investingLive European markets wrap: A more cautionary mood; US to waive Iran sanctions?