German government bond yields see the biggest drop since October due to falling oil prices

German 10-year government bond yields fell by 5 basis points to 2.93%; Italian and French government bond yields of the same maturity dropped by 9 basis points to 3.70% and 8 basis points to 3.59%, respectively. The decline in German 10-year government bond yields marked the largest drop since October 10. Interest rate swap markets indicate that the European Central Bank is expected to raise rates by 40 basis points this year, down by 9 basis points from the previous day. This round of movement was triggered by WTI crude oil falling 4% to $95 per barrel, and Brent crude oil dropping 1% to $102 per barrel.