German 10-year bond yield hits highest since 2011

LONDON, March 20 (Reuters) - ​German ⁠10-year government bond ​yields hit their highest since ​the ‌middle of the euro ⁠zone crisis in 2011 ⁠on Friday, ​as the U.S.-Iran war roiled energy markets and pushed investors ​to ‌brace for a new inflationary shock in Europe. The European Central Bank ​on Thursday held interest ‌rates, but signalled it was closely watching surging ‌energy prices driven by the U.S.-Israeli war on Iran.

The 10-year ​yield, a benchmark for European government ‌borrowing costs, hit a high of 3.025% and ⁠was ⁠last up 7 basis ‌points (bps) on the day. Yields ​rise ​as prices ‌fall and vice versa.