German government bonds continued their bearish steepening trend after the Bundesbank projected a gradual economic recovery next year, with growth accelerating by 2027.

The yield on Germany's 10-year bond rose 3 basis points to 2.88%, while the 30-year yield climbed 4 basis points to 3.53%, marking its highest level since 2011.

Meanwhile, the U.S. 10-year Treasury yield increased by 2 basis points to 4.14%, and the UK 10-year gilt yield rose 3 basis points to 4.51%.