Meanwhile, Germany's April inflation eased to 2.1%, the lowest since October 2024, due to a 5.4% drop in energy prices. Goods inflation fell to 0.5%, though services inflation rose to 3.9%, and core inflation ticked up to 2.9%. Monthly consumer prices rose 0.4%, with EU-harmonized inflation at 2.2%.

In bond markets, U.S. 10-year Treasury yields hovered near 4.52%. German 10-year yields opened slightly lower at 2.68%, while Japanese yields climbed to 1.47%, reflecting ongoing strength in local bond markets.