Global Markets Show Risk Aversion as Oil Prices Climb and Eurozone Fiscal Worries Grow

Global financial markets exhibited a risk-off trend, with Brent crude surpassing $100 per barrel due to increased Iranian attacks on tankers. Eurozone fiscal concerns heightened, particularly for France and Italy, after the Banque de France governor ruled out ECB intervention. This led to wider peripheral spreads, while German yields rose on safe-haven demand and expectations for central bank rate hikes moderated.