German 10-Year Bond Yield Hits 15-Year High at 3.21% Ahead of ECB Decision

Germany's 10-year bond yield surged to 3.21% on July 24, marking the highest level since 2011, as rising oil prices and inflation expectations drove market bets on European Central Bank rate hikes. The yield rose 3 basis points during the day.

Traders currently expect the ECB to deliver approximately two 25-basis-point rate increases by year-end. The central bank may hold its deposit rate unchanged at 2.25% on Thursday while assessing the impact of escalating geopolitical tensions.

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