Eurozone government bond yields turned lower after a modest rise at the open, now aligning with the downward trend in U.S. Treasury yields. However, volatility in both eurozone and U.S. yields remains limited.

ING Groep NV interest rate strategists noted in a report that with the U.S. government shutdown resolved, "we should start seeing more data this week, which could introduce some volatility around releases."

They added, "Markets are currently pricing in a roughly 50% chance of a December rate cut, meaning any data could easily shift expectations."

The strategists suggested that eurozone rates may remain range-bound until hard data, such as GDP figures, paints a stronger growth outlook.

According to Tradeweb, the 10-year German bund yield edged down 0.3 basis points to 2.708%, while the 10-year U.S. Treasury yield fell 1.1 basis points to 4.136%.