Global Markets Mixed as Yields on 10-Year US Treasuries and German Bund Fluctuate

On Thursday, February 23, 2023, global markets were mixed as the yield on 10-year US Treasuries declined by two basis points to 3.93%. The yield on the 10-year German Bund rose by 1.05%, while the German DAX gained 0.49%.

Regarding commodities, Brent crude remained steady at $82.86 per barrel, while WTI crude saw an increase of 0.1% to reach $76.41 per barrel.[0] At 2:00 Eastern Time, U.S. crude futures had decreased 0.6% to $75.89 per barrel, and the Brent contract dropped 0.7% to $82.28[1] The yield on the 10-year U.S. Treasury rose by 5 basis points to 3.872% from 3.822%, and the yield on the 10-year German Bund rose by 3 basis points to 2.494% from 2.464%. When bond prices rise, yields fall, and when bond prices fall, yields rise.[2]

The STOXX Europe 600 gained 0.8% in morning trading.[0] The stock price of Orpea rose 5.6%, and Deliver[0] In contrast, Dechra Pharmaceuticals decreased by 12.5%, and Quilter declined by 4.2%.[0] The FTSE 100 saw an[0] European stocks rose, with France’s CAC 40 gaining 1.1% and Germany’s DAX rising 1.1%.[0]

In the foreign exchange market, GBP/USD continued to range between resistance at the 50-day SMA at 1.2180, and the support at the 200-day SMA at 1.1935. The 1.1935 level is targeting the 1.[3] EUR/GBP rallied from the 0.8780 area and currently finding resistance at the 50-day SMA at 0.8830 area. Support is seen around the 0.8870 level.[3] GBP/USD rebounded off the 200-day SMA at the end of last week, keeping the current range between support at 1.1920/30 and resistance at the 50-day SMA at 1.2180 intact.[4]

The European Central Bank has declared its intention to increase rates by an additional 50 basis points in March, though investors are examining the possibility of a larger increase.[5]

0. “US Futures, European Stocks Rise But Higher Rate Path Worries Return” MarketWatch, 27 Feb. 2023,

1. “European stock futures mixed; investors on inflation data watch By”, 27 Feb. 2023,

2. “US Futures Fall, European Stocks Mostly Down as Rate Worries Linger” MarketWatch, 21 Feb. 2023,

3. “Europe set for higher open, as markets look to US PCE” FXStreet, 24 Feb. 2023,

4. “Europe set for higher open with US markets out for Presidents Day” CMC Markets, 20 Feb. 2023,

5. “European markets up 1.2% after worst week of the year; Commerzbank climbs 4.5% after DAX re-entry” CNBC, 27 Feb. 2023,