Global yields surge as oil prices remain firmer, reigniting fiscal concerns - Newsquawk Europe Market Open

Bond yields moved higher as oil prices stayed firmer, reviving fiscal concerns, according to the Newsquawk Europe Market Open wrap. In Asia, Treasury Secretary Bessent told Japanese officials that rate hikes are needed, the report said, citing NHK, while a Japanese finance ministry source expected the Bank of Japan to focus on the domestic economy rather than US influence. Nikkei 225 traded without conviction and USD/JPY stayed rangebound, with 10-year JGB futures following weaker global peers. Crude futures remained supported after rising the day before, alongside geopolitical monitoring in the Indian Ocean off Oman and Strait of Hormuz disruptions. The session also previewed multiple data releases and central bank speakers.