The yield on 10-year UK gilts fell by about 3 basis points, while German bond prices rose before falling back. Investors are watching strong demand for Japanese and UK government bond auctions.

In the afternoon of Tuesday in the European market, the yield on German 10-year government bonds rose by 0.1 basis points to 2.525%, trading between 2.485% and 2.528% for the day. After a "gap-down" opening, the yield mostly declined throughout the day but showed a slight oscillating upward trend overall, with a significant rally and overall increase starting at 23:40 Beijing time. The yield on 2-year German bonds fell by 0.3 basis points to 1.786%, trading between 1.766% and 1.789% for the day, while the yield on 30-year German bonds rose by 0.4 basis points to 3.017%, following a similar trend to the 10-year bonds. The yield spread between 2-year and 10-year German bonds increased by 0.368 basis points to +73.641 basis points, mirroring the trend of medium to long-term German bond yields. The yield on UK 10-year government bonds fell by 2.9 basis points to 4.638% and remained in a low volatility state after a "gap-down" opening, reaching a daily low of 4.599% at 21:52 Beijing time.