The latest Market Talks covering FX and Fixed Income. Published exclusively on Dow Jones Newswires throughout the day.

0519 GMT - DZ Bank raises its forecast for 10-year Bund yields in the wake of recent rises, which could prompt a further hike by the European Central Bank in the fourth quarter, analyst Christian Lenk says in a note. For the 10-year Bund yield, DZ Bank's new three-, six- and 12-month forecasts are 3.30%, 3.10% and 3.00% respectively, versus 3.10%, 3.00% and 2.90%, previously, he says. "With the easing of pressure on the energy markets that we anticipate, the long end of the yield curve should pull back from its highs," he says. However, the German government's borrowing policy and a high volume of bond issuance are limiting the scope for a drop. The 10-year Bund yield hit 3.572%, the highest since 2009, on Tuesday. (emese.bartha@wsj.com)

0512 GMT - The 10-year U.S. Treasury yield did not go to 5% because something broke in America, it went to 5% in the company of every other global bond yield, says Siebert Financial's Mark Malek in a note. He points, in particular, to Japan's 10-year government bond yield crossing 3% for the first time in 30 years. "Japan, the country that spent a generation teaching the rest of us what zero looks like," the CIO says. "When every sovereign long end in the developed world reprices at the same time, in the same direction, the market is not rendering a verdict on any single borrower. It is remembering something it let itself forget for fifteen years-that lending money to anybody for ten years is a risk, and not a convenience," Malek says.