The market is reevaluating its optimistic sentiment towards the ceasefire agreement in the Middle East.

The yield on Eurozone government bonds rose during opening trading. Erik Liem of Deutsche Bank stated in a report that as the momentum of rising bonds reversed in afternoon trading on Wednesday, the market was rethinking its optimistic stance on the ceasefire agreement. By the end of the day, Eurozone bond yields saw a double-digit decrease, with US Treasury yields also declining, though partially narrowing their losses. However, the interest rate strategist noted that "a more constructive environment may prevail, despite the diminishing downward potential for 10-year German bond yields approaching yesterday's lows." Data from Tradeweb shows that the 10-year German bond yield rose by 2.9 basis points to 2.968%; the 10-year French bond yield rose by 4 basis points to 3.616%; and the 10-year Italian bond yield rose by 4.2 basis points to 3.748%.